Latest news shows that the legal disputes in the Crypto Assets industry, which have attracted much attention, are about to come to an end. It is reported that the legal representatives of the SEC and Ripple Labs have reached a Consensus and jointly decided to withdraw the appeal application in the Second Circuit Court of Appeals. This significant development marks the potential end of the long-standing standoff between the two parties.

According to the joint motion to dismiss submitted on Thursday, the SEC and Ripple Labs will each bear their respective costs. Previously, Ripple Labs' CEO Brad Garlinghouse stated in June that the company intended to withdraw its cross-appeal, emphasizing that the company would focus its efforts on the future development of "building a value internet."

With both parties waiving their right to appeal, Judge Analisa Torres's mixed ruling made in 2023 will become the final judgment in this case. This ruling is quite controversial: on one hand, it found that the large amount of XRP sold by Ripple Labs to institutional investors constituted illegal securities sales; on the other hand, regarding the "dark pool" sales to retail investors, the judge supported Ripple Labs' position.

This outcome will undoubtedly have a profound impact on the Crypto Assets industry. It not only marks the conclusion of the dispute between Ripple Labs and the SEC but also provides important reference for the entire industry in seeking a balance between regulation and innovation. As this milestone case gradually comes to a close, the industry will closely watch its potential impact on the future regulatory environment for Crypto Assets.