SEC, Ripple Ink $50M Settlement Agreement, Ask NY Judge for Green Light
With just one week left, Ripple and the SEC are awaiting approval from a New York judge for their $50 million settlement agreement. Previously, District Judge Analisa Torres had imposed a $125 million fine on Ripple. The new deal entails Ripple receiving most of that money back.
The recent development marks the resolution of a protracted legal battle between Ripple Labs and the SEC. Ripple disclosed the preliminary agreement back in March, with this latest $50 million penalty pending judicial consent.
Upon news of the settlement, XRP surged by 9%, extending its value increase over a 24-hour period. Remember, there are only two articles left to read this month.
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SEC, Ripple Ink $50M Settlement Agreement, Ask NY Judge for Green Light
District Judge Analisa Torres ordered Ripple to pay the SEC a $125 million fine last year. Under the new settlement agreement, Ripple will get the majority of that money back.
- Ripple Labs and the SEC have reached a settlement that includes a $50 million penalty, pending judicial approval, ending their long-standing legal dispute.
- Ripple first reported the in-principle agreement in March.
XRP climbed 9% on the news, continuing a 24-hour increase in value.
