Ripple and SEC, Lawsuit winding-up process... Joint appeal withdrawal request

Ripple and the United States Securities and Exchange Commission (SEC) have entered procedures to effectively end their long-standing legal battle. According to BeinCrypto on the 11th (local time), both sides jointly submitted a request to the Second Circuit Court of Appeals to withdraw both the appeal and cross-appeal. This indicates that an agreement has been reached on the remaining issues and is interpreted as a step for final settlement.

With this request, the submission of legal documents originally scheduled for April 16 will also be omitted. The appeal includes not only the cross-appeal filed by Ripple last October but also the SEC's appeal and claims against other related parties. Lawyer James Filan, who has supported Ripple, stated, "An agreement has been reached on all remaining legal issues."

This request appears to be an official closing step after the SEC effectively withdrew its lawsuit against Ripple last month. The subsequent procedures may take about 60 days, and if a final agreement is reached, it is evaluated that it could have a significant impact on the direction of cryptocurrency regulation in the United States.

With the SEC recently easing conflicts with major cryptocurrency companies such as Coinbase and Kraken, the adjustment with Ripple is interpreted as an extension of this trend.

Meanwhile, the price of XRP is showing no significant movement amid analysis that the possibility of the lawsuit ending has already been reflected in the market.