Jacob

🚨NEW: The @SECGov has agreed to drop its appeal against @Ripple, pending approval by the Commission. But what does this mean for Ripple in relation to Judge Torres' August ruling? First of all, the Torres ruling still stands. While the SEC has agreed, in principle, to drop its appeal regarding the programmatic/secondary market sales, Ripple has not agreed to drop its own appeal challenging the $125M fine and the ongoing injunction that prevents it from selling $XRP to institutional investors without registering those sales as securities. Sources close to the case suggest that the ball is now in Ripple's court, as it is technically considered a plaintiff rather than a defendant. Ripple has the option to continue appealing the fine and injunction, or to drop it. Whether the SEC will engage in further negotiations surrounding the district court ruling remains to be seen. However, this is the aspect of the case we always knew would require a little more discussion and a little more nuance given the unprecedented circumstances both parties find themselves in amid this rapidly evolving regulatory landscape for digital assets. However, as far as the SEC is concerned and after more than four years of battling it out in court, the agency is no longer actively pursuing charges against Ripple (pending commission approval of the appeal withdrawal, which is expected.)