*The SEC and Ripple are ending a multi-year legal battle after abandoning their appeals regarding XRP before the Second Circuit Court of Appeals.*

The United States Securities and Exchange Commission (SEC) and Ripple Labs have filed a motion to dismiss their respective appeals in the XRP case, a decision that will officially close one of the most publicized lawsuits in cryptocurrency history, the SEC announced on Thursday.

In a joint stipulation filed on August 7 before the United States Court of Appeals for the Second Circuit, both parties agreed to withdraw the SEC's appeal and Ripple's cross-appeal.

These filings follow a final judgment from the Southern District of New York imposing a civil penalty of $125 million on Ripple. The SEC appealed the decision to contest Judge Analisa Torres's conclusion that XRP sales on public exchange platforms and certain token distributions did not violate securities laws. Ripple, for its part, filed a cross-appeal of the court's decision holding it responsible for unregistered institutional sales.

The SEC stated in a procedural statement that this stipulation "ends the Commission's civil action" against Ripple and the two executives. The underlying district court judgment will remain in effect and no further proceedings are ongoing in this matter.

"Following today's Commission vote, the SEC and Ripple have officially filed a request directly with the Second Circuit to dismiss their appeals," said Stuart Alderoty, Ripple's legal chief. "End... and back to business."

And now?

Following today's joint stipulation, the United States Court of Appeals for the Second Circuit is expected to issue an order rejecting the SEC's appeal and Ripple's cross-appeal, thus officially closing the appeal's role.

The judgment from Judge Torres of the Southern District of New York, imposing a civil penalty of $125 million on Ripple and permanently prohibiting the company from violating the registration provisions of the Securities Act, remains unchanged.

In the absence of appeals or ongoing modifications, the case moves to the enforcement phase, during which Ripple must pay the fine within the allotted time and comply with the terms of the injunction.

Once the payment is made and in the absence of motions, the district court will administratively close the case and the SEC will consider the enforcement measure resolved.