On June 12, in the last file in the long -term legal battle between the US Securities and Exchange Committee (SEC) and Ripple Labs, the two parties asked the Manhattan Federal Court from Manhattan to dissolve the current Zargi order and the release of the Civil Penalty of $ 125 million at the present time in the guarantee.
SEC and Ripple Move to end a long -term dispute
According to the new court report, SEC and Ripple suggested a settlement witnessing $ 50 million paid to the regulator, with the remaining money to Blockchain.
NEW: And Secgov and @ripple She jointly asked the Manhattan Provincial Court to dissolve the Zarbian order in their ongoing case and the release of a civil penalty worth $ 125 million in the guarantee.
They suggest that $ 50 million to SEC, while returning the remaining money … pic.twitter.com/uopquqng5q
Eleanorterrett June 12, 2025
The suggestion comes when the American organizational authorities make extensive efforts to discuss the discussion of the encryption regulations. On June 11, the US Senate voted 68-30 to move forward in the genius law, a draft law that defines the rules of Stablecoins such as USDC and USDT.
SEC initially filed a law against Ripple in 2020 by allegedly selling XRP as an unregistered guarantee. While a judge last year spent that Ripple software did not violate securities laws, institutional sales were inappropriate. It leads to a $ 125 million penalty kick.
If it is approved, this agreement can bring a period of one year of the final decision.
During the evaluation of XRP, Judge Analisa Torres noticed that the digital origin itself is not a “contract, treatment or plan” that embodies the requirements for the investment contract “, and therefore it is not safe.
The suggestion argues that “exceptional circumstances”, including the terms of settlement, the changing SEC position on the application of encryption, and the mutual desire to avoid prolonged litigation. He justifies a change in the rule of Judge Angia Torres. This comes after her ruling, as she rejected a pre -modification request.
Also read: Current currency here to survive: Senator John Thun
