On August 7, 2025, defense lawyer James K. Filan announced that the U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc. jointly filed a dismissal of their appeals, marking the end of one of the most closely followed legal cases in the digital asset industry.
Legal Framework and Signatories
The legal notice cites Federal Rule of Appellate Procedure 42(b)(1) as the ground for the dismissal. All parties, including the Commission, Ripple, Garlinghouse, and Larsen, have agreed to the terms. Attorneys from Kellogg, Hansen, Todd, Figel & Frederick, along with Cleary Gottlieb Steen & Hamilton LLP and Debevoise & Plimpton LLP represented Ripple and its executives.
Impact on Ripple and XRP
This joint dismissal ends a long-standing legal battle that significantly impacted XRP’s market position and the overall regulatory outlook for digital assets in the U.S. The litigation originally revolved around whether XRP was classified as a security under U.S. law, with the SEC alleging that Ripple conducted unregistered securities offerings.
XRP Community Reactions and Industry Implications
The formal end of the case marks a milestone moment for Ripple, XRP holders, and the wider digital asset industry. Market participants awaited a resolution, as the outcome held implications for token classification and enforcement actions across the sector.
The conclusion of this case lifts significant legal uncertainty surrounding XRP and removes a critical burden from Ripple’s operations, paving the way for potential regulatory advancements and industry innovation.
