The Second Circuit Court of Appeals has dismissed the SEC’s appeal and Ripple’s cross-appeal in the high-profile XRP case, finalizing Judge Analisa Torres’ 2023 ruling.
The regulator had challenged Torres’ decision that programmatic XRP sales did not constitute securities transactions, while Ripple had contested the finding that institutional sales violated securities laws. With both sides abandoning appeals, the split verdict remains binding.
Ripple’s Chief Legal Officer Stuart Alderoty confirmed the dismissal, marking the end of a legal saga that began with the SEC’s 2020 lawsuit.
