Andrew Grant
Key Takeaways
- The SEC and Ripple have officially resolved their legal dispute, ending all appeals and clearing the way for final enforcement actions.
- The settlement confirms Ripple’s $125 million penalty and upholds the court’s clarification that XRP is not a security for secondary market trades.
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The long-running legal battle between Ripple Labs and the Securities and Exchange Commission has entered its final stage after the US Court of Appeals for the Second Circuit approved a joint stipulation dismissing the parties’ appeals, as confirmed by defense lawyer James Filan on Friday.
#XRPCommunity #SECGov v. #Ripple #XRP The Second Circuit has approved the Joint Stipulation of Dismissal. pic.twitter.com/v796dAtfiZ
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 22, 2025
The order puts an end to appellate proceedings, which had been paused earlier this year as Ripple and the SEC worked toward settlement terms. With the SEC’s appeal now dismissed, the case moves into final enforcement proceedings at the district court level.
As previously noted by the SEC, Judge Analisa Torres’s August 2024 ruling will remain in effect once dismissal is granted. Under the deal, Ripple will pay a $125 million civil penalty to resolve charges tied to its institutional sales of XRP.
Ripple CEO Brad Garlinghouse previously hailed the final judgment as a victory for Ripple and the crypto sector. The court found that XRP does not qualify as a security in secondary market transactions, while certain institutional sales still fall within securities regulations.
The SEC, led at the time by Gary Gensler, appealed the verdict to contest XRP’s classification, prompting Ripple to file a cross-appeal.
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