def update_transaction(response: Dict, transaction: Transaction, error_msg: str = None):
    """
    Updates the transaction depending on whether or not the transaction was
    successfully executed on the Stellar network and `process_withdrawal`
    completed without raising an exception.

    If the Horizon response indicates the response was not successful or an
    exception was raised while processing the withdrawal, we mark the status
    as `error`. If the Stellar transaction succeeded, we mark it as `completed`.

    :param error_msg: a description of the error that has occurred.
    :param response: a response body returned from Horizon for the transaction
    :param transaction: a database model object representing the transaction
    """
    if error_msg or not response["successful"]:
        transaction.status = Transaction.STATUS.error
        transaction.status_message = error_msg
    else:
        transaction.completed_at = now()
        transaction.status = Transaction.STATUS.completed
        transaction.status_eta = 0
        transaction.amount_out = transaction.amount_in - transaction.amount_fee

    transaction.stellar_transaction_id = response["id"]
    transaction.save()
    def submit(cls, transaction: Transaction) -> bool:
        valid_statuses = [
            Transaction.STATUS.pending_user_transfer_start,
            Transaction.STATUS.pending_external,
            Transaction.STATUS.pending_anchor,
            Transaction.STATUS.pending_trust,
        ]
        if transaction.status not in valid_statuses:
            raise ValueError(
                f"Unexpected transaction status: {transaction.status}, expecting "
                f"{' or '.join(valid_statuses)}.")

        transaction.status = Transaction.STATUS.pending_anchor
        transaction.save()
        logger.info(f"Initiating Stellar deposit for {transaction.id}")
        maybe_make_callback(transaction)

        if transaction.envelope_xdr:
            try:
                envelope = TransactionEnvelope.from_xdr(
                    transaction.envelope_xdr,
                    settings.STELLAR_NETWORK_PASSPHRASE)
            except Exception:
                cls._handle_error(transaction,
                                  "Failed to decode transaction envelope")
                return False
        else:
            distribution_acc, _ = get_account_obj(
                Keypair.from_public_key(
                    transaction.asset.distribution_account))
            envelope = cls.create_deposit_envelope(transaction,
                                                   distribution_acc)
            envelope.sign(transaction.asset.distribution_seed)

        transaction.status = Transaction.STATUS.pending_stellar
        transaction.save()
        logger.info(f"Transaction {transaction.id} now pending_stellar")
        maybe_make_callback(transaction)

        try:
            response = settings.HORIZON_SERVER.submit_transaction(envelope)
        except BaseHorizonError as e:
            cls._handle_error(transaction,
                              f"{e.__class__.__name__}: {e.message}")
            return False

        if not response.get("successful"):
            cls._handle_error(
                transaction,
                f"Stellar transaction failed when submitted to horizon: {response['result_xdr']}",
            )
            return False
        elif transaction.claimable_balance_supported:
            transaction.claimable_balance_id = cls.get_balance_id(response)

        transaction.envelope_xdr = response["envelope_xdr"]
        transaction.paging_token = response["paging_token"]
        transaction.stellar_transaction_id = response["id"]
        transaction.status = Transaction.STATUS.completed
        transaction.completed_at = datetime.datetime.now(datetime.timezone.utc)
        transaction.amount_out = round(
            Decimal(transaction.amount_in) - Decimal(transaction.amount_fee),
            transaction.asset.significant_decimals,
        )
        transaction.save()
        logger.info(f"Transaction {transaction.id} completed.")
        maybe_make_callback(transaction)
        return True