Stewart Aldouti, chief legal official at Ripple Al Dardi, says the end of the legal battle between Blockchain and the US Securities and Stock Exchange Committee (SEC) is approaching its end.
In a post on the social media platform x, aldeoty He says This ripple ends its appeal against the Supreme Education Council.
This development comes in the wake of the recent organizational agency’s decision to drop a lawsuit against the San Francisco company, which was originally submitted in December 2020.
“The final crossing of T’s and Conting of I CE-I’s- What should be my last update on SEC V Ripple at all … last week, SEC agreed to drop its appeal without conditions. Ripple now agreed to drop her cross.”
Aldeoty says that Ripple will also pay only $ 50 million from the original fine of $ 125 million that the US District Court for the southern region of New York ordered the company to pay in August due to the violation of US Securities Laws through institutional sales of the XRP code.
“The Securities and Stock Exchange will retain $ 50 million from a fine of $ 125 million (already in a guarantee of interest in cash), with the balance back to Ripple. The agency will also ask the court to raise the standard bargaining order that was imposed earlier at the SEC request.”
Crypto in America Eleanor Terrett He says There are basically some of the remaining requirements to put an end in the case.
“Once all this is voted by the committee, and the court documents in good condition, the SEC case will end against Ripple once and for all.”
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