Ripple and the SEC have reached an agreement, concluding a years-long court case by lowering the fine to $50 million.
The End of a Long Legal Battle
After several years of court proceedings between Ripple and the SEC, a final compromise has been reached. The SEC agreed to withdraw its appeal unconditionally, while Ripple is waiving its cross-appeal. This marks the end of a long-standing legal battle.
Implications for Ripple and the Crypto Industry
Although official approval from the SEC Commission is yet to be received, the agreement signifies a pivotal moment for Ripple, which has been in dispute with the commission over cryptocurrency regulation since 2020. The reached agreements may guide other crypto companies on regulatory matters.
Future Steps
Once all formalities are concluded, $75 million from escrow will be returned to Ripple. However, several procedures are still to be conducted to finalize the case, including SEC approval and legal documentation preparation.
The conclusion of the Ripple and SEC case marks a significant victory for the company and the entire crypto market, opening new prospects for the regulatory framework of digital assets.
