SEC will keep $50 million of Ripple fine and refund the rest to wrap case, legal officer says

Ripple and the U.S. Securities and Exchange Commission have reached an agreement to end their long-running legal battle. Following last week's news that the SEC would drop its appeal without conditions, Ripple has now agreed to withdraw its cross-appeal, Chief Legal Officer Stuart Alderoty said on X Tuesday. The SEC will retain $50 million of the previously imposed $125 million fine — funds already held in an escrow account, Alderoty said. The remaining balance will be returned to Ripple. Additionally, Alderoty said the agency will request that the court lift the standard injunction currently in place. The resolution remains subject to a formal commission vote, finalization of legal documentation, and standard court procedures. Once completed, the case will be closed in full. A spokesperson for the SEC declined to comment or confirm the details of the deal. This agreement marks the end of a closely watched, four-year legal battle that began in December 2020, when the SEC accused R ... Read full article.