SEC-Ripple enforcement case to end after motion to drop appeals
The filing came precisely one year after Ripple had been ordered to pay $125 million as part of an enforcement action over the company using XRP as unregistered securities.
The civil lawsuit between the US Securities and Exchange Commission (SEC) and Ripple Labs appears to be finished after a filing confirming both parties jointly stipulated to the dismissal of the regulator’s appeal and the blockchain company’s cross-appeal.
In a Thursday filing in the US Court of Appeals for the Second Circuit, the court recognized the joint dismissal of the SEC’s appeal and Ripple’s cross-appeal in the enforcement action involving XRP.
“The end…and now back to business,” Ripple Chief Legal Officer Stuart Alderoty wrote in a Thursday X post.
