Official settlement docs from SEC - let’ rock n roll XRP army 🤘
Today, the U.S. Securities and Exchange Commission (SEC) announced a settlement with Ripple Labs, along with executives Brad Garlinghouse and Chris Larsen, bringing an end to the long-standing civil enforcement case.
🔍 Key highlights of the agreement:
•Ripple and the SEC will jointly ask the court to lift the injunction issued on August 7, 2024.
•A frozen civil penalty fund of $125 million will be released:
•50 million will go to the SEC.
•The remaining amount will be returned to Ripple.
•Both parties will withdraw their appeals once the court signals agreement and implements the proposed changes.
•No admission of guilt by Ripple or its executives.
•The SEC emphasizes that this is a strategic move to support ongoing efforts to develop clear crypto regulation – not a judgment on the case’s merits.
-Now the path is clear for institutional investors to adopt XRP and start using the XRPL.
