SEC and Ripple Reach $50 Million Settlement Agreement Pending Judge Approval
Ripple Labs and the U.S. SEC have reached a settlement to conclude their legal dispute, pending judicial approval.
- The settlement includes a $50 million penalty, part of a previously imposed $125 million fine by Judge Analisa Torres.
- The SEC originally sought a $2 billion fine.
- In 2023, Judge Torres ruled Ripple violated securities laws in selling XRP to institutional investors but not for retail sales.
- Both parties will drop their appeals as part of the agreement.
- This settlement follows a shift in the SEC's approach to crypto regulation under new Chairman Paul Atkins.
- XRP's value increased by 9% following the announcement.