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The legal fight between Ripple and the U.S. Securities and Exchange Commission (SEC) is officially over. Last week, the SEC decided to drop its appeal, clearing the way for a final resolution that both sides have now agreed on.
As part of the settlement, Ripple will pay a $50 million fine, which will be held in an interest-bearing account. Additionally, Ripple has agreed to drop its cross-appeal, meaning they won’t challenge the SEC’s earlier rulings anymore.
A key part of the resolution is that the court will lift the injunction (a legal restriction) that had been placed on Ripple at the SEC’s request. This means Ripple can now operate freely without that limitation. Stuart Alderoty, Ripple’s Chief Legal Officer confirmed the news and said: “The SEC dropped its appeal, and Ripple dropped its cross-appeal.”
What Happens Next?
While some paperwork and court steps still need to be finalized, legal experts expect the remaining process to go smoothly. Attorney Fred Rispoli provided a timeline for the final steps: “With the announcement by @s_alderoty, you better believe the paperwork has been drawn up already. Now we wait on a vote by SEC Commission.”
Timeline: When Will It Be Done?
Rispoli explained the timeline:
- The SEC Commission will vote in less than 30 days.
- The injunction filing will happen soon after and will be approved.
- Within 60 days, the case will be 100% officially done.
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