Long designing legal performance between the Securities and Exchange Commission (SEC) and the blockchain payment company Ripple Labs, has been officially concluded after the new regulator for digital assets in the US.
Second and ripple appeal to dismiss to dismiss
Recently in a court AdmissionBoth SEC and Ripple announced their agreement to dismiss their appearance, to effectively eliminate one of the most tested cases in the history of the Crypto region.
The joint stipend of the dismissal was presented for the use of the appeal for the second circle, where the two sides confirmed their decision to withdraw the second Appleal (No. 24-2648) and the Ripple’s cross-popular (number 24–2705).
No, the agreement determines that each party will bear its legal cost and fee. This resolution comes
The saga began in December 2020, when the second Ripple Labs and the lawsuit against its top officials accused them of operating unregistered securities officers through the sale of XRP. Ripple has constantly stated that XRP is a digital currency, not security.
Chief legal officers celebrate the victory of the court
The case has been seen in numerical development in July 2023 by Judge Analisa Torres of Southern District of New York in numerical development.
The judge determined that the sales of the XRP on the public exchange do not qualify as securities, which is a partial victory for Ripple. However, the court allowed the case to continue on other grounds, especially the sale of XRP sales.
Riple’s Chief Legal Officer, Stuart Aldroti, took the social media platform X (Formally Twitter) to conclude the conclusion of the legal battle. He does not vote for the Commission and highlighted the formal filling to reject the appeal, “end … and now on business.”
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