Ripple VS SEC: The historical legal battle ends after 4 years star-news.press/wp

The legal legal dispute has long been concluded between the Securities and Exchange Committee (SEC) and the Blockchain Ripple Labs payment company, in the wake of the new organizational dawn of the digital assets in the United States.

SEC and Ripple agreed to reject the appeal

In a modern court presentationSEC and Ripple announced their approval to refuse to appeal, and to end one of the most accurate cases in the history of the encryption sector.

The joint will to adjudicate the American Court of Appeal was submitted to the second department, where the two parties confirmed their decision to withdraw the appeal of the Supreme Education Council (No. 24-2648) and the intersecting Ripple (No. 24-2705).

It is worth noting that the agreement states that each party will bear its legal costs and fees. This decision comes after nearly four years of legal quarrels that greatly affected the cryptocurrency industry.

The epic began in December 2020, when SEC filed a lawsuit against Ripple Labs and the most important executives, accusing them of making unregistered securities by selling XRP. Ripple has constantly confirmed that XRP is a digital currency, not safety.

The chief legal official celebrates the victory of the court

The case witnessed many developments, including a decisive referee in July 2023 by Judge Anjia Torres of the southern province in New York.

The judge decided that XRP sales on public stock exchanges were not qualified as securities transactions, a partial victory for Ripple. However, the court allowed the case to continue in other foundations, especially with regard to the institutional sales of XRP.

The chief legal official of Ripple, Stuart Alderoty, has moved to the former social media platform to express his ideas about the conclusion of the legal battle. he male The committee voted and highlighted the official deposit of the rejection of the appeal, saying: “The end … and now it returns to work.”

Distinctive image from Dall-E, Chart from TradingView.com

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