Ripple Nears Settlement with SEC
Ripple's long-standing legal battle with the SEC is nearing a conclusion. A surprising twist has emerged: Ripple might pay its $50 million fine in XRP, its native cryptocurrency.
Key Developments
- *Reduced Fine*: The SEC initially demanded $700 million, but the fine was reduced to $50 million.
- *XRP Payment*: Ripple's CEO, Brad Garlinghouse, revealed that paying the fine in XRP was discussed during settlement talks.
- *Potential Impact*: This move could signal regulatory change and boost XRP's institutional momentum.
Market Reaction
- *XRP Price Surge*: XRP's price surged 14% to $2.55 after the SEC dropped its lawsuit against Ripple.
- *Current Price*: XRP is currently trading at $2.15, with a 7.97% increase.
What's Next?
The settlement awaits final approval from the SEC's commissioners. If approved, Ripple will pay the $50 million fine, potentially paving the way for a more favorable regulatory environment for cryptocurrencies.
