The legal fight between Ripple and the U.S. Securities and Exchange Commission (SEC) is officially over. Last week, the SEC decided to drop its appeal, clearing the way for a final resolution that both sides have now agreed on.
As part of the settlement, Ripple will pay a $50 million fine, which will be held in an interest-bearing account. Additionally, Ripple has agreed to drop its cross-appeal, meaning they won’t challenge the SEC’s earlier rulings anymore.
A key part of the resolution is that the court will lift the injunction (a legal restriction) that had been placed on Ripple at the SEC’s request. This means Ripple can now operate freely without that limitation. Stuart Alderoty, Ripple’s Chief Legal Officer confirmed the news and said: “The SEC dropped its appeal, and Ripple dropped its cross-appeal.”
While some paperwork and court steps still need to be finalized, legal experts expect the remaining process to go smoothly. Attorney Fred Rispoli provided a timeline for the final steps: “With the announcement by @s_alderoty, you better believe the paperwork has been drawn up already. Now we wait on a vote by SEC Commission.”
Rispoli explained the timeline:
The SEC decided not to pursue further legal action, allowing both sides to finalize the case and move forward.
The resolution removes legal uncertainty, which may boost XRP adoption and investor confidence.
Altcoin prices have been bleeding for months, leaving many investors wondering if the market is…
The cryptocurrency market is reeling from a sharp sell-off over the past 24 hours, driven…
The crypto market just witnessed another wild 24 hours. Bitcoin faced a sharp rejection after…
It’s not every day you hear about a 77-year-old Indian business shifting gears to embrace…
The cryptocurrency market remains volatile, and XRP is showing signs of weakness despite recently climbing…
Pi Network has been making headlines in the crypto community, with growing speculation about a…
