Ripple has gained a significant legal advantage following the U.S. Securities and Exchange Commission’s (SEC) decision to drop its appeal against the company. This development marks a crucial moment for Ripple and the broader cryptocurrency industry, as it reinforces legal clarity regarding XRP’s regulatory status.
According to Stuart Alderoty, Ripple’s Chief Legal Officer, the SEC’s decision not to pursue further legal action has placed Ripple in a position of strength. Alderoty stated that Ripple will now assess the potential for a cross-appeal to challenge specific legal points.
Ripple CEO Brad Garlinghouse acknowledged the milestone, emphasizing that the ruling represents a decisive win for the company and the broader digital asset space.
Also Read: Ripple CEO Reacts to XRP’s Exclusion From Crypto Reserve Executive Order, Here’s What He Said
Despite the positive outcome, discussions continue regarding Ripple’s financial penalties. The company had been ordered to pay a $125 million fine, part of a prior ruling that labeled Ripple as a “Bad Actor.”
Legal experts and industry observers have questioned whether the fine remains in effect or if the resolution between Ripple and the SEC negates the penalty. Ripple’s legal team will clarify the matter further in the coming weeks.
XRP Community Reacts
XRP community members responded differently after the SEC withdrew from the appeal process. The XRP community displays opposing perspectives about this development because some see it as helpful to regulatory understanding, but others doubt its impact on digital assets.
Cedric Beau from Web3 expressed doubt about the situation because Ripple secured a practical legal advantage, but XRP does not imply complete autonomy. He said, “XRP maintains only driving privileges on the road due to regulatory permission.”
Beau claimed that the SEC’s withdrawal provides a better legal structure yet fails to support decentralization principles since a decentralized system needs no courtroom battles to confirm its authenticity.
Concerns have also emerged regarding Ripple’s financial obligations. The $125 million fine facing Ripple has become uncertain as Stephen Baird, another community member, asked questions about it, as did industry observer Ripple Van Winkle.
This case presents a current example of the continuous conflict between law enforcement regulators and blockchain asset innovation. Ripple succeeds in court, yet unresolved matters regarding its financial commitments remain, and questions about XRP’s decentralized nature remain.
The SEC’s recent move might inspire blockchain companies to battle regulatory actions to establish a new framework for digital assets across the United States.
Also Read: Here is the XRP Price Prediction For April 1 Following End of Ripple Lawsuit
