After bipartisan notice to the Second Circuit Court of Appeals They voluntarily dismissed their appeals The 2023 ruling in the case.
The document said Thursday that the SEC and Ripple will each bear their own costs. Joint rules ended the legal battle between the SEC and Ripple, which began in 2020 after the SEC sued Ripple for former Ripple chairman Jay Clayton in 2020 (He now runs the U.S. Attorney’s Office in the Southern New York Region) It alleged that it violated the securities laws by selling XRP, and the token is closely related to the company.
XRP jumped 5% after filings Thursday to $3.27 as of press time.
SEC Appeal in 2024 After the 2023 Magistrate’s ruling, Ripple enables XRP to be made available to retailers through exchanges, and Ripples intersect Keep its argument in this case.
Both parties agree to withdraw their respective appeals in June, Ripple CEO Brad Garlinghouse Said at that timeto place the punishment of Analisa Torres by the District Court judge to the appropriate punishment. These penalties In connection with her discovery, he found that Ripple violated the securities laws of selling XRP to institutional merchants, including a $125 million fine and permanent injunction to violate further violations of the law.
Ripples and SEC Appeals were suspended earlier this year Donald Trump has appointed new leadership in the agency after he became President of the United States. Over the past few months, the SEC has dropped more than a dozen cases and investigations into crypto companies.
All parties try Negotiate these finesbut Try multiple times Rejected by Judge Torres About procedures and other issues.
