After a four-year legal battle, the conflict between Ripple and the SEC, which caught the attention of the crypto community and financial regulators, has finally concluded with some questions still unanswered.
Background of the Conflict
The legal proceedings between Ripple and the SEC began in December 2020, when the SEC accused Ripple of illegally selling XRP tokens, which they considered unregistered securities.
Recent Developments
Last week, the SEC decided to drop its appeal without any conditions, leading Ripple to withdraw its cross-appeal as well. As part of the settlement, the SEC will retain $50 million of the $125 million fine, with the remaining amount returned to Ripple.
Expected Next Steps
The SEC should ask the court to lift the standard injunction. This process requires the Commission to vote and then ask Judge Torres to lift it. All necessary documents need to be finalized and go through the usual court processes.
While the legal case between the SEC and Ripple is nearing closure, final steps involving procedural necessities remain. Ripple remains optimistic about the outcomes, though the financial implications for the company are yet to be fully determined.
