Ripple and the U.S. Securities and Exchange Commission (SEC) continue their legal battles. Recently, it was revealed that the $125 million fine was paid in cash, dispelling rumors of a payment using the cryptocurrency XRP.
Payment of the Fine in Cash
Former SEC attorney Marc Fagel confirmed that the fine amount was paid in cash, emphasizing that Ripple did not use its cryptocurrency XRP for this payment. This statement quelled weeks-long rumors about the fine being settled with XRP and shifted focus to the critical appeals process for the case.
Impact on Investments and the Market
Opting to pay in cash weakened some investors’ expectations that cryptocurrencies could fulfill official obligations. Ripple’s decision to use traditional currency demonstrates an understanding of the SEC’s regulatory standards and the requirements of monetary policy. Some in the community viewed this as a bold move, while others argued that it deferred XRP's potential to gain official status.
Appeals Process
Paying the fine did not close the case; the resolution of disputes hinges on the appellate court’s review. The parties are closely monitoring the expected appeals schedule to finalize initial decisions. As the process drags on, Ripple’s legal strategy continues to influence market perception and XRP price dynamics. The appeals phase could either bring a final consensus between Ripple and the SEC or usher in a new cycle of uncertainty.
Although the outcome of the case remains unclear, the facts regarding payment methods and anticipated court decisions may influence cryptocurrency regulation and investor perception.
