🔵Ripple CEO Brad Garlinghouse announced that the SEC is withdrawing its appeal, marking a major victory for the company and the cryptocurrency market.
🔵The legal battle with the SEC began in 2020 when the commission sued Ripple, alleging that the company conducted an illegal ICO, claiming that XRP tokens were securities.
🔵Ripple maintained that XRP is a cryptocurrency. In 2023, a court ruled that XRP sales on exchanges do not violate securities laws, setting an important precedent for the crypto industry.