Ripple Labs and the Securities and Exchange Commission of the United States (SEC) officially concluded an agreement which, if it is approved by a judge, will end his legal battle for several years.
According to a settlement agreement lodged Thursday in New York, the two parties agreed with a penalty of $ 50 million – part of the fine of $ 125 million initially imposed last year by judge Analisa Torres of the South New York District (SDNY), and a tiny fraction of the massive fine of $ 2 billion initially requested by the SEC.
In his decision in 2023, Judge Torres noted that Ripple had violated the securities laws in the sale of his XRP token native to institutional investors, but did not violate the securities laws to put XRP on exchanges for retail customers to buy the petrol at the origin of 2020 under the president of the Dry of New York).
The dry, then under the direction of former president Gary Gensler, appealed the decision of Torres, which prompted Ripple to intervene. Under the settlement agreement, the two parties agree to remove their affairs. Thursday’s file confirms Ripple’s announcement in March according to which he had concluded a principle settlement agreement with the SEC.
Read more: Ripple to obtain $ 75 million fine ordered by the Dry Court, Drops Cross Call
The regulation comes in the middle of the large -scale retirement of the dry of a crowd of cryptographic surveys and litigation which began under the mandate of peopleler. After US President Donald Trump took office in January and appointed Paul Atkins, friendly for crypto, to serve again president of the SEC, the agency took a tour of cryptographic regulations.
XRP has climbed 9% on news, continuing to increase the value of 24 hours.
Ripple did not respond to the request for comments from Coindesk.
