Update on the XRP lawsuit: Agreement between Ripple and SEC
Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have reached an agreement in the long-standing lawsuit. According to attorney James K. Filan, both parties have requested the court to approve this agreement. Ripple will pay a fine of $125 million, and $75 million will be refunded from the escrow account.
Final steps
The court needs to approve the final steps: Judge Torres will decide on lifting the ban, allowing the distribution of the escrow funds—$50 million for the SEC and the remaining $25 million for Ripple. After approval, both parties will request the appellate court to dismiss the lawsuit to officially close it. This is a significant milestone in cryptocurrency history.
Opposition from SEC Commissioner Crenshaw
Not everyone agrees. Commissioner Caroline Crenshaw publicly opposed, calling this agreement a "regulatory retreat" and a threat to investor protection. Ms. Crenshaw stated that Ripple violated selling XRP to institutions but was given a "free pass."
Is the SEC losing control of the cryptocurrency market?
Crenshaw's opposition highlights the division within the SEC. She warns that this agreement sets a dangerous precedent, which could weaken future cryptocurrency enforcement. While Ripple celebrates, the cryptocurrency market watches the SEC's shift in stance. The lifting of the XRP ban could lead to market optimism, but Crenshaw's words raise concerns about the future of cryptocurrency regulation in the United States.
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Source: https://tintucbitcoin.com/chi-trich-tu-caroline-crenshaw-sec-vs-ripple-cang-thang/
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