The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is approaching its concluding phase after four and a half years of proceedings.
Update from Ripple and SEC
On June 12, Ripple and the SEC jointly filed a motion requesting a reduction of the financial penalties to $50 million and lifting the injunction preventing Ripple from selling XRP tokens to institutional investors.
Key Deadlines and Their Importance
The SEC must submit a status update to the U.S. Court of Appeals for the Second Circuit by June 16, indicating whether both parties have settled or intend to appeal.
Possible Outcomes of the Legal Process
If the motion is granted, the parties may voluntarily withdraw their appeals, leading to the resolution of the lawsuit. This would be significant for XRP and its regulatory future.
As June 16 approaches, Ripple and the SEC aim to resolve their differences, potentially impacting the cryptocurrency market significantly.
