Ripple’s Chief Legal Officer, Stuart Alderoty, has shared what he termed his ‘last update’ in the long-standing case between the blockchain company and the Securities and Exchange Commission (SEC).
Alderoty, in his update, confirmed that the SEC has agreed to drop its appeal of the case without conditions, while Ripple has also resolved to withdraw its cross-appeal, he said in an X post on March 25.
Under the terms of the agreement, the SEC will retain $50 million of the $125 million fine originally imposed on Ripple, which has been held in an interest-bearing escrow account in cash. The remaining balance will be returned to the company.
Additionally, the SEC plans to request that the court lift a standard injunction it had previously sought, which restricted certain activities related to Ripple’s XRP sales. These steps, however, remain subject to a Commission vote, the drafting of final documents, and standard court procedures.
“The final crossing of t’s and
We współpracy z: https://finbold.com/ripples-legal-chief-drops-bombshell-final-update-on-sec-case/
