Ripple abandons its cross-appeal against the SEC and accepts a $125 million fine, potentially bringing an end to the long-standing legal battle

ChainCatcher news, according to CoinDesk, Ripple Labs announced the withdrawal of its cross-appeal against the U.S. SEC and will execute the relevant terms determined by the previous court ruling. This decision signifies that the multiple rounds of legal battles since the SEC filed a lawsuit against Ripple in 2019 may come to an end.

Abandoning the appeal means Ripple will accept the initial ruling of a $125 million civil penalty and may retain a permanent injunction. In 2023, Judge Torres ruled that the sale of XRP to retail investors on public exchanges does not constitute a securities transaction, but the sale to institutional investors violates securities laws.