Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen

SEC Announces Joint Stipulation to Dismiss Appeals The Securities and Exchange Commission filed a Joint Stipulation of Dismissal with defendants Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen, resolving the civil enforcement action against them. The stipulation dismisses the Commission's appeal and Ripple's cross-appeal in the Second Circuit Court, upholding a final judgment that imposed a $125,035,150 civil penalty on Ripple. Main Purpose The joint stipulation resolves the Commission's civil enforcement action against Ripple and its executives, dismissing appeals and confirming a significant financial penalty. Industry Impact This settlement has significant implications for the cryptocurrency industry, highlighting the importance of compliance with securities registration provisions.