#CryptoComeback The SEC closes the agreement with Ripple for XRP sales

The agency accepts Ripple's proposal, and both parties will go to court to request the release of the USD 125 million fine. Ripple and the United States Securities and Exchange Commission (SEC) sealed a definitive agreement, representing a significant step towards resolving the lawsuit. This was filed by the agency during Joe Biden's administration, accusing the company of violating securities laws.

As the SEC reports in an official statement published on May 8, the agency presented a settlement agreement that establishes a framework to resolve the SEC's civil enforcement action against Ripple. The plan presented by the company a few months ago is accepted with the idea of reaching a joint agreement regarding the ruling issued by Judge Analisa Torres. These words refer to the plans being advanced within the agency with a view to presenting clearer rules for the cryptocurrency sector. This work has been progressing since last January through a working group led by Commissioner Hester Peirce.