Ripple and SEC Request Court to Release $125 Million Civil Penalty
The SEC and Ripple have jointly filed a motion in Manhattan federal court to resolve their legal dispute. Key points include:
- Request to dissolve the injunction and release a $125 million civil penalty held in escrow.
- Proposal allocates $50 million to the SEC and $75 million back to Ripple.
- Motion cites “exceptional circumstances” for reopening the final judgment, referencing changing SEC regulatory attitudes.
- Aims to settle outstanding appeals in the Second Circuit and prevent further litigation.
- The case, initiated in 2020, involved allegations of $1.3 billion in unregistered XRP sales.
- A court-approved settlement would eliminate remaining legal uncertainties regarding XRP.