Ripple's Chief Legal Officer, Stuart Alderoty, announced the conclusion of the XRP-SEC lawsuit. The SEC agreed to drop its appeal, and Ripple dropped its cross-appeal. As part of the settlement, the SEC will keep $50 million of the $125 million fine, with the rest returned to Ripple. The SEC will also request the court to lift the injunction, pending final approvals. This settlement ends a significant legal battle affecting the cryptocurrency industry.

MAG7.SSI

Ripple Chief Legal Officer Stuart Alderoty has provided his final update on the high-profile legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Alderoty confirmed in a statement that the SEC agreed last week to unconditionally drop its appeal. In return, Ripple agreed to drop its cross-appeal, according to Alderoty. As part of the settlement, the SEC will retain $50 million of the previously imposed $125 million fine, which will be held in cash in an interest-bearing escrow account. The remaining balance will be returned to Ripple.  The SEC will also ask the court to lift the standard injunction previously imposed at the agency’s request, but Alderoty noted that those decisions are still subject to a vote by the SEC Commission, preparation of final documents and standard court processes. This settlement marks the conclusion of a years-long legal dispute that has significantly impacted the cryptocurrency industry. *This is not investment advice.

Ripple and SEC Reach Settlement, Ending XRP Lawsuit