Ripple CEO Brad Garlinghouse has announced that the company is dropping its cross-appeal against the U.S. Securities and Exchange Commission, putting an end to the lengthy legal battle that originally started in December 2020.
The legal dispute dates back to December 2020, when the U.S. Securities and Exchange Commission (SEC) sued Ripple Labs, co-founder Chris Larsen, and Garlinghouse. The SEC accused Ripple of raising $1.3 billion through unregistered securities sales of XRP.
Garlinghouse had previously described the $125 million fine imposed in August 2024 as a “victory,” emphasizing that it was a 94% reduction from the $2 billion the SEC had initially requested.
If the SEC ultimately abandons its appeal, it will mark the official end of a four-year conflict that has affected the regulatory landscape of crypto assets in the United States.
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Summary
This development marks the possible closure of one of the most important cryptocurrency enforcement cases in recent years. Ripple’s closing of its appeal shows that it is confident in its business model and regulatory status. The move may also provide clarity for other cryptocurrency companies that are dealing with SEC scrutiny. Most importantly for investors, confirmation that XRP’s legal classification remains unchanged may bring new stability to the market, while XY Mining is a smart choice to bring stable passive income to investments.
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