The case, which has dragged on since December 2020 when the SEC accused Ripple of raising over $1.3 billion through unregistered sales of its closely related XRP token, may finally be wrapping up — though not without last-minute wrangling over its terms.

The U.S. Securities and Exchange Commission (SEC) is weighing labeling XRP as a commodity in settlement negotiations with Ripple Labs. The move is important in the court case that started in December 2020,

Ripple, the leader in enterprise blockchain and crypto solutions, has received approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payments and services in the Dubai International Finance Centre (DIFC).

A July 2023 judge’s ruling deeming XRP not a security for retail sales but fining Ripple $125 million for institutional violations marked a turning point. Recent reports suggest both parties might drop their appeals, with Ripple negotiating better terms amid a perceived shift in SEC priorities under new leadership.