Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Jakub porzycki | Nurphoto | Getty images
Ripple and the US Securities and Securities Commission have reached an agreement to end their long -standing legal battle. Following Last week news That the SD would eliminate its appeal without conditions, Ripple now agreed to withdraw his cross appeal, legal director Alderty Stuart He said Tuesday x.
The SEC will retain $ 50 million of the fine of $ 125 million previously imposed, funds already maintained in a guarantee deposit account, Alderoty said. The remaining balance will be returned to Ripple.
In addition, Alderoty said the agency will request that the court raise the standard mandate currently in place.
The resolution remains subject to a formal vote commission, completion of legal documentation and standard judicial procedures. Once completed, the case will be fully closed.
A SEC spokesman declined to comment or confirm the details of the agreement.
This agreement marks the end of a four -year -old legal battle that began in December 2020, when the SEC accused Ripple of making an offer of unregistered values XRP sales. The case became a key test of how the US values laws apply to digital assets during the mandate of the president of the outgoing SEC, Gary Gensler.
His conclusion also indicates a broader change in the Washington approach to cryptographic regulation.
Since President Donald Trump began his second term in January, the SEC has reduced its application efforts, eliminating civil demands against exchanges Coinbase and Kraken and pointing out a potential resolution in his case of fraud against cryptographic businessman Justin Sun.
The trend points to a more conciliatory regulatory position, one that seeks to balance the protection of investors with the support of innovation in the digital asset space.
