SEC, Ripple lawsuit to end after joint agreement to drop appeals
Ripple Labs and the SEC have both filed to drop their legal appeals in a yearslong court battle over the securities classification of the XRP token.
The Securities and Exchange Commission and Ripple Labs are set to end a yearslong legal battle after jointly asking an appeals court to dismiss the regulator’s appeal and the blockchain company’s cross-appeal.
In a brief filing on Thursday, the Second Circuit Appeals Court recognized a joint dismissal of the SEC’s appeal and Ripple’s cross-appeal in the lawsuit over XRP (XRP), noting each party will bear their own costs and fees.
“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer, Stuart Alderoty, wrote to X on Thursday.
