Ripple abandons cross-appeal against SEC and accepts $125 million fine, and the long-term legal battle may come to an end

Odaily News Ripple Labs announced that it would withdraw its cross-appeal against the U.S. SEC and would implement the relevant provisions previously determined by the court. This decision means that the multiple rounds of legal battles since the SEC filed a lawsuit against Ripple in 2019 may come to an end.
Giving up the appeal means Ripple will accept the $125 million civil penalty originally ordered and may retain the permanent injunction. In 2023, Judge Torres ruled that XRP sales to retail investors on public exchanges did not constitute securities transactions, but sales to institutional investors violated securities laws. (CoinDesk)