The US Securities and Exchange Commission (SEC) and Ripple Labs have jointly agreed to withdraw their respective appeals, ending a legal dispute that had been ongoing for years.
In a filing on Thursday, the Second Circuit Appeals Court acknowledged the voluntary withdrawal, and both parties will bear their own legal costs.
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The move leaves Judge Analisa Torres' 2023 ruling in place, which determined that sales of XRP to retail buyers were not considered securities transactions, while institutional sales were.
Ripple’s chief legal officer, Stuart Alderoty, confirmed the agreement on social media, stating:
"The end…and now back to business."