Ripple VS SEC, the outcome is approaching!!!
Ripple and the SEC have reached an agreement to withdraw their appeals and resolve the sanctions, with the SEC retaining 50 million dollars and returning the rest to Ripple, indicating a possible resolution to their ongoing legal battle.
According to BlockBeats, Ripple's General Counsel, Stuart Alderoty, announced that the U.S. Securities and Exchange Commission (SEC) has agreed to unconditionally withdraw its appeal from last week. Ripple has also decided to withdraw its counter-appeal. As part of the agreement, the SEC will retain $50 million of the $125 million fine, which has been deposited in an interest-generating escrow account, while the remaining amount will be returned to Ripple. Additionally, the SEC plans to request the court to lift the standard restraining order previously imposed on its application. These actions are subject to committee vote, final document drafting, and standard court procedures.
