💰🍂Ripple and the U.S. Securities and Exchange Commission (SEC) have officially reached a settlement agreement and intend to settle the case for $50 million
🍂💰and $#mansooralrhyb on May 9, court documents showed that Ripple and the SEC reached a settlement agreement, aiming to lift the court's ban on Ripple in its ruling issued in August
2024, and pay only $50 million of the $125 million civil penalty to the SEC, while returning the remaining $75 million to Ripple. Both parties agreed not to appeal or seek to overturn the previous ruling. The case, which has been ongoing since
2020, concerns the sale of XRP as securities. SEC Commissioner Caroline Crenshaw publicly expressed her opposition to the agreement, stating that it undermines regulatory authority, undermines the court's
🚀🎊 rulings, and exacerbates regulatory gaps. The agreement still requires the court to issue a "guidance ruling" and obtain approval from the appellate court before it can officially take effect.
