Ripple XRP Appeal Against SEC Dropped After Paying $50 Million as Case Officially Ends
Ripple has dropped its appeal against the U.S. Securities and Exchange Commission after paying $50 million from a $125 million penalty related to its long-standing lawsuit, according to a detailed statement released by Stuart Alderoty, Ripple's Chief Legal Officer.
The remaining amount of $75 million is being returned—in an interest-bearing escrow account—to the company. The Supreme Council of Education also agreed to withdraw its appeal, bringing an end to the case that began in December 2020 under former SEC Chair Jay Clayton.
Stuart said on X, "This is the final crossing of T's and Coming of I's—and what should be my last update on Sec V Ripple ever. Last week, the SEC agreed to drop its appeal unconditionally. Ripple is now dropping its cross-appeal.
$XRP
Ripple has dropped its appeal against the U.S. Securities and Exchange Commission after paying $50 million from a $125 million penalty related to its long-standing lawsuit, according to a detailed statement released by Stuart Alderoty, Ripple's Chief Legal Officer.
The remaining amount of $75 million is being returned—in an interest-bearing escrow account—to the company. The Supreme Council of Education also agreed to withdraw its appeal, bringing an end to the case that began in December 2020 under former SEC Chair Jay Clayton.
Stuart said on X, "This is the final crossing of T's and Coming of I's—and what should be my last update on Sec V Ripple ever. Last week, the SEC agreed to drop its appeal unconditionally. Ripple is now dropping its cross-appeal.
$XRP
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