Ripple vs SEC Lawsuit: Almost Over, But Not Quite? SEC Files Status Report

More than four years ago, one of the biggest crypto battles, the Ripple vs SEC lawsuit, began. Based on the XRP’s status, both parties have been in a legal turmoil for years, putting a lot more at stake than just money. Notably, the  U.S. Securities and Exchange Commission accused Ripple Labs and the executives of conducting an unregistered securities offering; since then, not only XRP holders but the entire crypto space is awaiting its end, as it could open a pathway for better digital assets’ regulation. Notably, the XRP lawsuit is nearly at its end, but it is not yet over.

Ripple vs SEC Lawsuit Appeals Dismissed, But It’s Not Over

On August 7, the Ripple vs SEC lawsuit came to a near end as both parties filed a joint dismissal of their respective appeals. Experts acknowledged it as the conclusion of the lawsuit, which began in December 2020.

Notably, the dismissal came from both sides, led by Ripple’s cross-appeal withdrawal and followed by the SEC after internal voting.

#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: The parties have filed a Joint Dismissal of the Appeals. The case is over. pic.twitter.com/QMATRLnxnS

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 7, 2025

As this closes, both parties will cover their legal costs, and Ripple will pay $125 million, much lower than the initially $2 billion. However, a restraint on the future institutional XRP sale remains.

Interestingly, despite this, XRP has been officially recognized as ‘not security,’ yet the formal closure on the case remains.

SEC Files Status Report, Court Approval Will End Ripple Lawsuit

Despite the XRP lawsuit being considered closed, former federal prosecutor James K. Filan revealed a new update on the case. In an X post today, he shared the SEC’s status report, dated August 16, in which the SEC updated the U.S. Second Circuit on the progress of the case, in line with the June 16 directive.

If the U.S. Second Circuit approves the joint dismissal, then the Ripple vs SEC lawsuit can formally end. Notably, this would be considered a turning point for the U.S. crypto regulations, as SEC Chair Paul Atkins comments.

After this, Ripple will pay the penalty for institutional sales and will require the company to register to make such sales decisions.

Crypto community member Sherrie adds that the status report filing is late. Moreover, she adds that this report is filed as the Court of Appeals has not officially approved the joint stipulation of dismissal.

Notably, she claims that this would not have been necessary if the Court of Appeals had approved the stipulation earlier. Ultimately, she also concluded that the case is over now as “Ripple has their waiver and they can conduct business.”