TechFlow news, August 8 — According to The Block, the U.S. Securities and Exchange Commission (SEC) and Ripple have reached an agreement to drop their appeals at the Second Circuit Court of Appeals, marking the end of this landmark cryptocurrency lawsuit. As stated in a joint motion to dismiss filed on Thursday, each party will bear its own costs.
This move means that Judge Torres’ July 2023 district court ruling will stand as the final decision: secondary market sales of XRP are not securities, but sales to institutional investors constituted unregistered securities offerings.
Following the announcement, XRP price rose over 7%, climbing from $0.304 to $0.329.
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