SEC and Ripple case is officially over originally appeared on TheStreet.
The years-long legal battle between the SEC and Ripple Labs is finally over.
A new court filing dated August 7 shows that the U.S. Securities and Exchange Commission and Ripple Labs have both agreed to dismiss their appeals, officially ending one of the most closely watched crypto lawsuits in history.
The filing officially ends the case. No further penalties or legal battles are expected
“All parties and counsel of record were served with copies of the foregoing document on the same date through the Court’s ACMS system.”
In a joint stipulation of dismissal filed with the U.S. Court of Appeals for the Second Circuit, both parties wrote:
“The Securities and Exchange Commission (‘Commission’), Appellant-Cross-Appellee, Ripple Labs, Inc. (‘Ripple’), Appellee-Cross-Appellant, Bradley Garlinghouse, Appellee, and Christian A. Larsen, Appellee, jointly stipulate to the dismissal of the Commission’s appeal (No. 24-2648), and Ripple’s cross-appeal (No. 24-2705), with each party to bear its own costs and fees.”
The stipulation includes signatures from both sides’ legal teams and was filed electronically through the Court’s ACMS system by SEC appellate counsel Ezekiel L. Hill.
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This marks the final chapter in a nearly four-year-long case that shook the crypto industry.
The SEC first sued Ripple Labs and two of its top executives, Brad Garlinghouse and Chris Larsen, on December 22, 2020, alleging the company conducted an unregistered securities offering by selling XRP.
Ripple immediately pushed back, arguing XRP is a digital currency, not a security — and that the SEC failed to give fair notice that its token was in violation of securities laws.
The case quickly became a battleground for the future of crypto regulation in the U.S., with Ripple gaining major community support and legal attention.
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In July 2023, U.S. District Judge Analisa Torres ruled that Ripple’s programmatic sales of XRP on crypto exchanges did not constitute securities transactions — a landmark decision seen as a partial victory for Ripple.
However, the court did find Ripple had violated securities laws in its direct institutional sales, allowing the SEC to proceed with further actions.
This led to a back-and-forth over remedies and penalties, and the SEC soon filed an appeal — which Ripple responded to with a cross-appeal of its own.
At the time of writing, XRP is up 9% in the last 24 hours, per Kraken’s price feeds.
SEC and Ripple case is officially over first appeared on TheStreet on Aug 7, 2025
This story was originally reported by TheStreet on Aug 7, 2025, where it first appeared.