$XRP The U.S. Securities and Exchange Commission (SEC) and Ripple Labs have reached an agreement to resolve the long-running lawsuit over XRP sales. The SEC had alleged that Ripple raised over $1.3 billion through an unregistered securities offering with its XRP tokens.

Under the terms of the agreement, Ripple will pay a civil penalty of $50 million to the SEC. Additionally, the SEC will return to Ripple the remaining portion of the $125 million that was held in escrow. This agreement ends the legal battle that began in December 2020.

The agreement upholds the July 2023 court ruling, which determined that Ripple's institutional sales of XRP violated securities laws, but programmatic sales on exchanges did not. Neither party will appeal or contest this ruling.

The SEC stated that this agreement will facilitate its ongoing efforts to reform and renew its regulatory approach to the cryptocurrency industry. For its part, Ripple celebrated the agreement as a resounding victory.

Following the announcement of the agreement, the price of XRP experienced a significant increase, although it later stabilized. This agreement is considered a key event for the cryptocurrency industry, as it provides greater regulatory clarity around digital assets.

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