Ripple is on track to reclaim $75 million as its long-standing legal dispute with the SEC approaches a conclusion. This development marks a significant moment for XRP holders and the broader crypto industry, potentially influencing future regulatory actions.
Alderoty noted this update on March 25 and meant for it to be his last update on SEC Ripple. The commission and court still need to approve the deal and make it official.
As part of the deal, the SEC also agrees to ask the court to terminate the standard injunction it had imposed on Ripple. The regulator initially sought a much larger fine but has now chosen to end the case on these revised terms.
Ripple chief executive officer Brad Garlinghouse had earlier signaled this to be the case as he noted that the SEC was ready to drop its appeal over the judgment. The court case that started back in the year 2020 was one of the major high-profile cases involving a large crypto firm.
Ripple has been very political out of the courtroom. The company gave money to support pro-crypto candidates during the 2024 election cycle.
Ripple looks to move on and shift focus towards its business and regulations with the court’s ruling. Meanwhile, a company that deals with crypto is watching for regulatory developments. The crypto company is hoping for a change in attitude at the SEC.
