The high-profile case, which began in December 2020, has been closely watched by the cryptocurrency industry due to its potential impact on regulatory oversight and digital asset classifications.<\/p>\n
Alderoty confirmed<\/a> <\/strong>that Ripple is officially withdrawing its appeal against the SEC, signaling the final stage of the years-long legal battle. This decision follows the SEC\u2019s recent move to drop its lawsuit against the blockchain company, a significant reversal from its original stance. The case had accused Ripple of conducting unregistered securities sales through its XRP<\/a> <\/strong>token, leading to a drawn-out courtroom fight over the status of digital assets under U.S. law.<\/p>\n As part of the resolution, Ripple will only be required to pay $50 million of the original $125 million fine imposed by the U.S. District Court for the Southern District of New York. The remaining funds, which were being held in an interest-bearing escrow account, will be returned to the company. In addition, the SEC plans to ask the court to lift the injunction it had previously sought against Ripple, removing further legal restrictions on the firm.<\/p>\n