news 
Big News for XRP: SEC and Ripple Jointly Dismiss Appeals. The Case Is Over
The U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc. have jointly filed a dismissal of their respective appeals, effectively bringing an end to one of the most contentious cases in the digital asset industry.
In a tweet announcement by defense lawyer James K. Filan, it was revealed that both parties had agreed on a Joint Dismissal of the Appeals. The statement concluded with the ominous words: “The case is over.”
This joint dismissal filing, dated August 7 and signed by legal representatives from both sides, confirms the conclusion of the litigation that began in December 2020 against Ripple Labs, Bradley Garlinghouse, and Christian A. Larsen.
According to the filing, Ripple’s lawyers were joined by attorneys from Kellogg, Hansen, Todd, Figel & Frederick, as well as Cleary Gottlieb Steen & Hamilton LLP and Debevoise & Plimpton LLP, while the SEC was represented by Acting General Counsel Jeffrey B. Finnell, Solicitor Tracey A. Hardin, Appellate Counsel David D. Lisitza, and Ezekiel L. Hill.
The conclusion of this case comes as a welcome relief to Ripple and XRP holders alike, as it lifts a significant regulatory overhang that had been impacting the company’s operations and its token’s market position.
This long-standing legal battle had sparked intense debate within the digital asset community, with some parties arguing that XRP constituted a security under U.S. law, while others contended that Ripple had complied with applicable securities regulations. The case has garnered significant public attention over the years, with many stakeholders closely following its progress.
The implications of this settlement will be far-reaching, with a major legal cloud lifted from both Ripple’s shoulders and the XRP community.
As news of the dismissal spread across social media platforms, reactions from the XRP community were varied. While some users expressed relief at the conclusion of the case, others speculated on potential consequences for the token’s market performance in the days ahead.
Despite this uncertainty, the termination of legal proceedings will undoubtedly have a profound impact on Ripple’s business strategy and future prospects.
The end of the case is not only a testament to the resilience of both parties but also underscores the evolving regulatory landscape within which digital assets operate.
As the digital asset space continues to evolve, it remains crucial that market participants monitor the latest developments in this sector.
Source: timestabloid.com
