After more than four years, the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) nears its final stage. Recently, Ripple's fine was reduced, and XRP sale restrictions are likely to be lifted.
Ripple's Fine Reduction
Ripple was initially fined $125 million in August. However, Ripple's Chief Legal Officer, Stuart Alderoty, stated that the SEC now plans to reduce this amount to $50 million, marking a significant achievement for the company.
Lifting of XRP Sale Ban
The SEC has also filed a motion to lift the restrictions on XRP sales to institutional investors. This decision will remove a major hurdle for Ripple's operational expansion. The agreement’s final approval relies on SEC internal voting, but the agency is showing flexibility towards crypto businesses.
Ripple CEO's Standpoint
Ripple CEO Brad Garlinghouse discussed the latest case updates in a Bloomberg interview. He noted that the company maintains a favorable position, allowing Ripple to strategize its future. Alderoty's announcement led to a 1.25% increase in XRP's market value, although attention continues to shift toward other market dynamics.
The termination of the SEC case provides Ripple with opportunities to reclaim its leadership position in the cryptocurrency industry, allowing the company to focus on business expansion and strategic growth.
