CEO of Ripple Brad Garlinghouse Declare The company is declining to its appellant against the American Securities and Stock Exchange Committee, which puts an end to the long legal battle that originally started in December 2020.
The Securities and Stock Exchange Commission is also expected to drop its appeal, which was submitted in October under the leadership of former President Gary Ginsner.
As U.Today, Judge Analisa Torres recently denied a major joint proposal from Ripple and SEC to amend the final ruling dating back to August 2024.
The Supreme Education Council previously agreed to reduce the monetary penalty to $ 50 million and asked for a judicial war against Ripple’s institutional sales as part of the settlement agreement with the company. However, the parties have failed to persuade the court to end the case with more appropriate terms.
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Ripple and SEC have not been able to meet strict requirements to amend the final ruling, according to the judge. The new position adopted by the Supreme Education Council seemed inconsistent and unconvincing in the end. Judge Torres confirmed that the pubic provisions are supposed to serve the public interest.
The company was expected to continue either to follow up on the cross appeal or drop it and settle the original penalty (125 million dollars) in addition to the permanent barbaric order. Not surprisingly, Ripple chose the second option.
XRP is still red despite the advertisement, which is currently being traded at $ 2.11, according to Coingecko data.
