Ripple and SEC Reach Settlement Deal, Ripple to Pay $50M
In a major development, Ripple and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion in the U.S. District Court for the Southern District of New York, signaling a settlement agreement between the two parties.
The motion seeks an indicative ruling to end the court’s injunction against Ripple and release $125 million in funds currently held in escrow for civil penalties.
Under the terms of the agreement, Ripple will pay $50 million to the SEC, while the remaining $75 million will be returned to the company.
This move marks a potential end to one of the most high-profile legal battles in the cryptocurrency space, following years of litigation over whether Ripple’s XRP token constituted an unregistered security.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
