In March 2025, Ripple CEO Brad Garlinghouse announced the conclusion of the SEC case, confirming that XRP is not considered a security for public exchange sales, but remains one for institutional sales. After this regulatory clarity, Ripple formed new partnerships with several banks and financial institutions. The SEC officially closed its lawsuit against Ripple Labs over unregistered securities, keeping a $125 million penalty in place and ending one of the most closely watched legal cases in the cryptocurrency world.