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The SEC and Ripple have concluded their legal dispute over XRP sales, finalizing a 2023 court ruling that classified XRP sales into securities and non-securities.
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The SEC withdrew its appeal while Ripple abandoned its cross-appeal, each party bearing its own legal costs.
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The court ruling resulted in a $125 million civil penalty for Ripple, which will be transferred to the U.S. Treasury.
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XRP’s price surged over 10% following the announcement, reaching $3.31 according to CoinGecko.
The SEC and Ripple have settled their legal dispute, finalizing a court ruling that impacts XRP’s classification and market dynamics.
What is the Outcome of the SEC and Ripple Legal Dispute?
The SEC and Ripple Labs have officially ended their legal battle, with both parties filing to withdraw their appeals. This decision finalizes a 2023 court ruling that determined certain XRP sales are classified as securities, while others are not. This ruling is significant for the future of cryptocurrency regulation.