Ripple Settles SEC Lawsuit, Pays Reduced Fine
Ripple Settles SEC Lawsuit, Pays Reduced Fine

Ripple Settles SEC Lawsuit, Pays Reduced Fine

News summary

Ripple Labs has agreed to pay a $50 million fine as part of a settlement with the U.S. Securities and Exchange Commission (SEC), significantly reduced from the original $125 million penalty. This settlement concludes a lengthy legal battle over allegations of unregistered securities sales through XRP, a case that has been closely watched by the crypto industry. The legal resolution follows Ripple's decision to drop its appeal against the SEC, and the regulator will request the lifting of an injunction that enforced securities registration for future sales. Ripple CEO Brad Garlinghouse declared this as a major victory, signaling a shift in the regulatory approach towards digital assets in the U.S. The conclusion of the lawsuit opens the door for potential XRP-based ETFs and sets a precedent for clearer regulatory guidelines in the crypto sector. This development is part of a broader trend where the SEC, under new leadership, has been retreating from aggressive enforcement actions against crypto firms.

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