The Chief Legal Officer of Ripple has detailed the forthcoming actions as the legal dispute with the SEC intensifies.

The SEC’s decision to withdraw enhances Ripple’s legal standing and increases the likelihood of XRP obtaining ETF approval. Furthermore, Ripple’s potential to file a cross-appeal might reshape legal standards regarding the classification and regulation of cryptocurrencies. As noted in a recent Reuters report, Ripple Labs revealed that the U.S. Securities and Exchange Commission (SEC) has retracted its appeal in the ongoing case against the firm. Launched in December 2020, the lawsuit claimed that Ripple was selling XRP without proper registration as a security. The case’s dismissal represents a significant triumph for Ripple and the wider cryptocurrency sector, possibly establishing a guideline for future regulatory measures. Moreover, Stuart Alderoty, the Chief Legal Officer of Ripple, highlighted. Ripple is currently in control, and we will assess the optimal way to move forward with our cross-appeal. Nevertheless, today is a day to honor Ripple’s Tactical Legal Strategies. Stuart Alderoty tweeted that he is hopeful about the SEC’s ruling, but noted that Ripple is considering their options for a cross-appeal. This cross-appeal involves a $125 million fine and a court order limiting Ripple’s sales of XRP to institutions. Today, Ripple advances—more robust than ever. This significant case established a standard for the domestic cryptocurrency sector. As the SEC has withdrawn its appeal, Ripple now holds a strong position, and we will assess the most effective way to move forward with our cross appeal.