SEC and Ripple Legal Battle to End as Parties Draws Agreement

According to Eleanor Terrett, the protracted legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC) appears poised for resolution after over four years of contentious litigation.

Recent reports suggest the case is nearing its conclusion, potentially marking a significant turning point for XRP and the broader US cryptocurrency market.

Ripple and SEC Legal Battle Wraps Up

Fox Business reporter Eleanor Terrett reported that the case is “in the process of wrapping up,” following the filing of appeals and cross-appeals stemming from a $125 million court judgment in August 2024.

This follows a trend of the SEC dropping cases against other crypto companies like Coinbase and Kraken since the Trump administration.

Ripple’s top lawyer, Stuart Alderoty, says this case is further along than the others because of the court ruling and appeals.

He hopes for a settlement with the SEC. If not, they’ll appeal. He suggests several ways the case could end: both sides dropping appeals (keeping the $125 million court decision) or working together to change the decision if they disagree.

The Lawsuit Thread

In December 2020, the SEC sued Ripple, saying it sold XRP illegally. A judge partly ruled in Ripple’s favor, saying XRP wasn’t an illegal security when sold on exchanges. This was a big win for the crypto world.

However, the SEC is still appealing, causing uncertainty. The case is dragging on because Ripple is trying to get a better deal. The judge’s ruling included a fine and stopped Ripple from selling XRP to big investors.

Ripple argues it’s unfair to keep punishing them when the SEC drops similar cases against other companies. The SEC is also unsure about what happened, as agreeing with the judge would mean admitting Ripple did something wrong – which goes against what the SEC says it wants to do.

The SEC’s actions under the Trump administration show a policy change. The agency is ending some lawsuits, suggesting a focus on helping the crypto industry grow. XRP’s price is rising because of this.

Ripple executives gave much money to political groups and Trump’s campaign. While Ripple says the SEC’s change is due to a new leader’s views, the timing raises questions about possible conflicts of interest. Things will likely change once the Senate chooses a new SEC head and a clear plan for crypto rules is made.

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