On August 8, news came that a significant legal dispute in the encryption industry seems to be coming to an end. The U.S. Securities and Exchange Commission (SEC) and Ripple Labs' lawyers have jointly agreed to withdraw their appeal in the Second Circuit Court of Appeals. The joint motion to withdraw submitted on Thursday shows that both parties will bear their own costs. Previously, Ripple Labs CEO Brad Garlinghouse announced in June that the company intended to withdraw its cross-appeal, stating they wanted to "turn the page and focus on building the value internet." Now both parties have abandoned their appeals, and Judge Analisa Torres' mixed ruling from 2023 will become the final judgment. This ruling determined that Ripple Labs' sale of hundreds of millions of XRP to institutional investors was an illegal securities sale, but on the issue of "dark pool" sales to retail investors, she supported Ripple Labs.