Ripple’s $50M SEC Settlement: The Final Curtain Call

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🚨 Ripple‘s $50M SEC Settlement: The Final Curtain Call 🎭
Ripple’s $50M SEC Settlement: The Final Curtain Call

It appears the tedious drama between Ripple and the U.S. Securities and Exchange Commission (SEC) has finally reached its conclusion. Last week, the SEC wisely decided to drop its appeal, thereby clearing the way for a harmonious resolution that both parties have now agreed upon.

As part of this amicable settlement, Ripple will graciously pay a $50 million fine, which will be held in an interest-bearing account, because who doesn’t love earning interest? 🤑 Additionally, Ripple has kindly agreed to drop its cross-appeal, meaning they won’t challenge the SEC’s earlier rulings anymore. How very… civilized.

A most crucial aspect of this resolution is that the court will lift the injunction (a pesky legal restriction) that had been placed on Ripple at the SEC’s behest. This means Ripple can now operate freely without that tiresome limitation. Stuart Alderoty, Ripple’s Chief Legal Officer, confirmed the news and said: “The SEC dropped its appeal, and Ripple dropped its cross-appeal.” How delightfully straightforward.

What Happens Next, You Ask?

While some paperwork and court steps still need to be finalized, legal experts expect the remaining process to proceed with all due haste.  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 All Be Done, Pray Tell?

Rispoli explained the timeline:

  • The SEC Commission will vote in less than 30 days, because who likes to wait, really?
  • The injunction filing will happen soon after and will be approved, because who doesn’t love a good stamp of approval?
  • Within 60 days, the case will be 100% officially done, and we can all breathe a collective sigh of relief.

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2025-03-26 05:52