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Ripple's Chief Legal Officer announced today that its XRP lawsuit with the SEC is approaching the final legal phase. The SEC will keep $50 million from the previous $125 million fine and return the rest to Ripple.
Last August, New York judge Analisa Torres ordered Ripple to pay the regulator a $125 million fine for violating securities laws through institutional sales of XRP.
Ripple Labs agreed to settle a U.S. Securities and Exchange Commission civil lawsuit over the alleged sale of unregistered securities and pay just $50 million of a previously imposed $125 million fine, the cryptocurrency company's chief legal officer said on Tuesday.
Ripple has agreed to pay the US Securities and Exchange Commission (SEC) a $50 million penalty and drop its cross-appeal in the regulator's lawsuit. In exchange, the SEC will ask for the lifting of an injunction that prohibits Ripple from selling XRP to institutions.
Ripple has dropped its appeal against the U.S. Securities and Exchange Commission after paying $50 million of the $125 million penalty tied to its long-running lawsuit, according to a detailed statement posted by Stuart Alderoty, Ripple's Chief Legal Officer. The remaining $75 million—held in an interest-bearing escrow account—is being returned to the company.
XRP trading activity remained subdued on Tuesday, holding steady after opening the week around $2.47.
Blockchain technology is receiving a boost with the XRP Ledger, based on recent findings from industry observers. The system has handled over 2.8 billion transactions without any security failure, which has caught the eye of financial institutions globally.
Either chain's integration to SWIFT ecosystem would open doors to a gigantic $150T market & instant bank payments.
Ripple has agreed to drop its appeal against the U.S. Securities and Exchange Commission, according to Ripple chief legal officer Stuart Alderoty.
Ripple's legal battle with the SEC is finally over! The crypto giant has dropped its cross-appeal, marking the official end of the case. The SEC will keep $50 million, and Ripple gets back $75 million from the $125 million fine.
Ripple has decided not to cross-appeal, the firm's chief legal officer said, bringing the SEC's case quickly to a close.
Blockchain firm Ripple Labs' case with the US Securities and Exchange Commission (SEC) may be officially wrapped up after more than four years, subject to court approval.According to a March 25 X post from chief legal officer Stuart Alderoty claiming what could be “the last update on SEC v. Ripple ever,” the executive said Ripple will drop its cross-appeal against the SEC in the US Court of Appeals for the Second Circuit.
The settlement's conclusion may set a precedent for future crypto regulations, impacting how digital assets are classified and traded. The post SEC vs Ripple set to end as $50M settlement and dropped appeals clear final steps appeared first on Crypto Briefing.
Ripple's CLO informed that the company will pay a minor fine.
Ripple has dropped its cross-appeal against the US Securities and Exchange Commission (SEC) following the latter's decision to drop its case against the crypto firm last week. The firm's Chief Legal Officer (CLO), Stuart Alderoty, also revealed what will happen with the $125 million penalty the Court awarded against them.
Ripple will pay $50 million of the original $125 million fine, with the remainder returned from escrow.
Stuart Alderoty, chief legal officer at Ripple, has announced that the company's long-lasting legal battle with the U.S. Securities and Exchange Commission is finally over after more than four years.
A cryptocurrency researcher has come forth with a bold and troubling claim — dubbing XRP the ‘biggest financial scam the world has ever seen'.
Ripple CEO Brad Garlinghouse said the SEC has finally pulled the plug on a four-year legal fight.
The crypto market lost momentum on Tuesday, with Bitcoin price pulling back from this week's high of $89,000. Other altcoins like Ethereum (ETH) and Ripple (XRP) remained in a tight range.
XRP price has risen by more than 4 percent in the last week but faces resistance at $2.47. What will it take to break above that barrier?
The cryptocurrency price prediction today, March 25, is bullish after the US stock market recorded its best trading day in history after adding more than $1.5 trillion. These gains coincided with a recovery across the cryptocurrency market with Bitcoin price reaching a two-week high above $88,000.
XRP has dipped by 1.5% in the past 24 hours, yet the possibility of Ripple's IPO could send it flying to new highs later this year. The post Will Ripple's IPO Launch Spark an XRP Breakout? Key Price Levels to Watch appeared first on Cryptonews.
There is something about April that XRP just can't shake - a stubborn, almost predictable slump that keeps repeating no matter how optimistic the broader averages look on paper. March did its part, delivering yet another positive close like clockwork, the third in a row, right in line with historical expectations.
