According to Odaily Planet Daily, the U.S. Securities and Exchange Commission (SEC) and Ripple have reached an agreement to jointly withdraw their appeal in the Second Circuit Court of Appeal, marking the official conclusion of one of the most closely watched legal battles in the crypto industry. According to the dismissal documents, each party will bear its own legal costs. A ruling issued by Judge Analisa Torres in 2023 will become final: XRP trading in the secondary market does not constitute a security, but large sales to institutional investors constitute an illegal securities offering. A $125 million fine was imposed, along with a permanent injunction prohibiting future violations.

Ripple CEO Brad Garlinghouse said the company will completely end this legal dispute and focus on more important things - building the "Internet of Value." (TheBlock)