Catenaa, Wednesday, March 26, 2025-Ripple has opted not to cross-appeal its ongoing legal battle with the Securities and Exchange Commission (SEC), signaling a potential resolution to the case, Chief Legal Officer Stuart Alderoty said Wednesday.
In a post on X, Alderoty described the update as possibly his last on the case but noted that the final outcome depends on a commission vote, final documents, and standard court procedures.
Judge Analisa Torres of the US District Court for the Southern District of New York ruled in July 2023 that Ripple’s programmatic XRP sales did not violate securities laws due to a blind bid process. However, she found that direct XRP sales to institutional investors were securities, resulting in a $125 million fine for Ripple.
Since the SEC’s leadership shift under the Trump administration, the agency has moved away from the aggressive enforcement approach of former Chair Gary Gensler.
Recent SEC actions include rescinding controversial crypto accounting guidance, reviewing regulations, and forming a crypto task force.
The SEC declined to comment on Ripple’s decision. The case, originally filed before Gensler took office, was a landmark in crypto regulation, shaping the debate over whether digital assets should be classified as securities.
