The long legal battle between Ripple Labs and the US Values and Securities Commission (Sec) seems to finally be close to its end, with Ripple emerging victorious.
The SEC will return the participation of the lion in the orderly fine of $ 125 million ordered by Ripple last year, according to a Post of Tuesday X of the legal director of Ripple, Stuart Alderoty, maintaining only $ 50 million and returning the balance of $ 75 million to Ripple.
The proposed agreement, which is subject to the approval of the commissioner and the Court, occurs only one week after the SEC agreed to launch its appeal of the judge of the United States District Court, Analisa Torres, the 2023 ruling that the programmatic sales of Ripple of XRP to retail exchanges did not violate federal laws of values. Torres discovered that only the institutional sales of Ripple violated the laws of securities, ordering Ripple to pay the fine of $ 125 million. Although it considered, the fine was a mere fraction of the almost $ 2 billion in civil sanctions, promotion and prejudice interest that the SEC initially requested.
As part of the pending conciliation agreement, Ripple agreed to abandon its cross appeal for the appeal of the SEC. Alderoty also said that the SEC will ask the Court to raise the standard mandate imposed against Ripple.
XRP increased 1.5% higher in the minutes after the news before reducing some of the profits, changing the hands to around $ 2.47 recently. The Token fell 0.5% in the last 24 hours, in line with Bitcoin (BTC) and the broader performance of Crypto Market Benchmark Coindesk 20 Index.
A representative of the SEC did not immediately respond to the request for comments from Coindesk.
– Krisztian Sandor contributed reports.
