Ripple withdraws additional appeal to SEC, ending four-year legal battle

On the 25th, Ripple announced that it would not file additional appeals in its legal battle with the U.S. Securities and Exchange Commission (SEC), suggesting that the legal battle is essentially over.

Stuart Aldaloti, the company's legal counsel, announced on X that the SEC would retain $50 million of the $125 million fine and return the remaining amount to Ripple. In addition, the company announced its intention to ask the court to lift the existing injunction.

In July 2023, Judge Analisa Torres of the U.S. District Court for the Southern District of New York ruled that some XRP transactions did not violate securities laws. Programmatic sales (trading...