The SEC and Ripple Labs Inc. officially concluded their legal battle by terminating their appeals regarding the sale of XRP tokens. In a joint filing with the U.S. Court of Appeals for the Second Circuit, both parties withdrew their appeals and agreed to cover their own legal costs. This decision follows a June agreement in which Ripple accepted a $125 million penalty, which will now be transferred to the U.S. Treasury, while an injunction on institutional sales remains. The court had previously ruled that XRP sales on public exchanges were not classified as securities, whereas institutional sales were considered securities. This ruling, made in October 2023, was viewed as a partial victory for Ripple and the broader crypto industry, but left Ripple liable for institutional sales. The dismissal of the appeals solidifies this ruling as a precedent for future regulations regarding cryptocurrency classification. Additionally, Ripple announced its acquisition of Rail, a Toronto-based payments technology company, for $200 million, aimed at enhancing its payment solutions.

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