The U.S. Securities and Exchange Commission (SEC) has confirmed a settlement agreement with Ripple in the securities case, which may significantly impact the company and the XRP cryptocurrency.
Details of the Settlement
The SEC sent a letter to Judge Analisa Torres in the Southern District Court of New York confirming that it has reached a settlement with Ripple. The letter also requests an indicative ruling from Torres.
Changes in Penalties
According to the data, Ripple's penalty has been reduced to $50 million from the initial $125 million. The remaining amount will be returned to the company, and the injunction imposed by Judge Torres in August is also set to be lifted.
Future of XRP and Ripple
According to CoinGecko data, XRP has risen by 7.2% over the past 24 hours. In addition, the parties have agreed not to contest Judge Torres's order, which concluded that programmatic XRP sales were not securities.
The settlement between the SEC and Ripple opens up new possibilities for the company and could change the perception of XRP in the market. The situation is expected to continue evolving in the coming months.
