The long-standing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is finally reaching its conclusion. After years of intense legal disputes, it has been officially announced that an agreement has been reached between the two parties.
The case, which has been a focal point for the entire cryptocurrency world, revolved around the SEC’s allegation that Ripple conducted unregistered securities transactions, raising over $1.3 billion through the sale of XRP.
In a major development today, Ripple’s Chief Legal Officer, Stuart Alderoty, issued a statement via the company’s official X (formerly Twitter) account. In his post, he confirmed that the lawsuit will be terminated, marking his final update on the Ripple-SEC saga.
According to Alderoty, the SEC decided last week to unconditionally withdraw its appeal. Following this move, Ripple also agreed to withdraw its cross-appeal. The mutual withdrawal of legal actions will officially bring the case to an end.
As part of the settlement, it was reported that Ripple will receive a partial refund. Of the $125 million initially imposed as a fine, $75 million will be returned to Ripple, while the SEC will retain $50 million. It was also stated that the SEC will apply to the court to lift the ongoing injunction related to the case.
This outcome is expected to have significant implications for the broader crypto market, especially for XRP holders and enthusiasts. At the time of writing, Bitcoin is trading at approximately $87,800, while XRP has surged to around $2.45.
The closure of this lawsuit marks a potential turning point for regulatory clarity in crypto, and the coming days will reveal how this decision will impact market sentiment and investor confidence.
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