The Securities Commission has withdrawn the appeal in the Ripple case.

The speech is about the appeal against the court decision of 2023, according to which the coins XRP issued by the company and sold on the secondary market are not securities.

The CEO of Ripple, Brad Garlinghouse (Brad Garlinghouse), called the dismissal of the complaint a positive event for the entire crypto industry and a personal victory, as he himself was mentioned in the regulator's lawsuit. According to the businessman, the company is now considering whether to withdraw its appeal.

The speech is about an administrative fine of $125 million that the authorities imposed on Ripple for the sale of XRP to institutional investors. The amount remains in an escrow account while the company considers its next steps. Garlinghouse stated that Ripple would not be averse to getting that money back, noting that the fine is related to sales made in 2015 and 2016. He believes that the case did not mention any harm to investors, so the company should not have been fined.

"We are moving from the status of defendant to the status of plaintiff. We will consider whether to withdraw the appeal. It is much better to be on the offensive than on the defensive," said Garlinghouse.

According to him, over the past four years, Ripple has spent more than $150 million on legal expenses. He believes that with the current administration of the White House, the "regulatory climate" in the country has improved.

"Under the administration of Joe Biden, we could not meet with officials in the White House. Now we are welcomed there, and this is a colossal change. The new administration aims to bring the crypto industry back to the US, rather than pushing it abroad," said Garlinghouse.

Last year, the New York Department of Financial Services (NYDFS) approved the launch of trading with the stablecoin RLUSD. Similar to XRP, issued by Ripple, RLUSD is intended to be used for international transactions, Garlinghouse explained.