SEC's Long-Running Case Against Ripple Officially Over
Main Idea
The U.S. Securities and Exchange Commission's (SEC) lawsuit against Ripple Labs, initiated in 2020, has officially concluded with both parties bearing their own costs, marking the end of a prolonged legal battle.
Key Points
1. The SEC sued Ripple Labs in 2020 under former Chair Jay Clayton, alleging violations related to XRP.
2. A 2023 ruling by District Judge Analisa Torres partially favored Ripple, leading to the SEC filing an appeal in 2024.
3. The case concluded with a joint stipulation where both the SEC and Ripple agreed to bear their own legal costs.
4. XRP's price increased by 5% following the announcement of the case's resolution, trading at around $3.27.
Description
The U.S. Securities and Exchange Commission's 2020 lawsuit against Ripple Labs is officially over, after the two parties informed the Second Circuit Court of Appeals that they were voluntarily dismissing their respective appeals of a 2023 ruling in the case. The SEC and Ripple will each bear their own costs, the filing said on Thursday. The joint stipulation ends the legal battle between the SEC and Ripple which began in 2020 after the SEC sued Ripple in 2020 under former Chair Jay Clayton (who ...
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