Key takeout
Ripple and the SEC mutually agreed to end the legal battle by dropping all appeals. This decision presents the conclusion of a well-known conflict in the digital asset industry.
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Ripple CEO Brad Garlinghouse today confirmed that the company has removed the cross-assessment in the XRP lawsuit and hopes the Securities and Exchange Commission will do the same.
Ripple has dropped our cross appeal and, as I said before, the SEC is expected to drop their appeal. We conclude this chapter in full and focus on what is most important – building an internet of value. Lock in. https://t.co/zsrgdfcplh
– Blood Girlinghouse (@bgarlinghouse) June 27, 2025
“Ripple is dropping our cross appeal. As I said before, we expect the SEC to drop their appeal. “Garlinghouse posted on X.
The announcement follows a federal judge’s decision to reject a joint claim by Ripple and the SEC and cut Ripple’s penalty to $50 million. Judge Analisa Torres held that the parties have no authority to vacate permanent injunctions or change the fines without meeting exceptional legal standards.
Despite that set-up, both sides appear to be ready to move on. The original ruling issued in July 2023 found that XRP sales on public exchanges did not violate the securities law, but did not have an institutional revenue totaling $728 million. Ripple was fined $125 million and was banned from similar sales.
Ripple’s decision to abandon appeals reflects a shift towards operational clarity. The SEC appears to be relaxing its code enforcement stance under the Trump administration as regulatory lawsuits against Coinbase, Kraken and Binance have also declined in recent months.
A story in development.
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