Ripple and SEC Reach Settlement in XRP Lawsuit

The U.S. Securities and Exchange Commission (SEC) and Ripple have reached a settlement agreement in their long-standing legal dispute, filing a joint petition with the U.S. District Court for the Southern District of New York on the 8th. According to the petition, both parties are seeking an end to the injunction against Ripple and the release of $125 million in escrowed civil penalty funds. Under the agreement, Ripple will pay the SEC $50 million, and the remaining funds will be returned to Ripple.

On April 16, the U.S. Court of Appeals approved an order to temporarily halt the appeal proceedings in response to a joint application from both parties, requiring the SEC to report on the progress of the settlement within 60 days, by June 9. Ripple...