Ripple decides to withdraw cross-appeal against the US SEC

PANews reported on June 28 that according to The block, Ripple has decided to withdraw its cross-appeal in the case with the U.S. Securities and Exchange Commission (SEC). A cross-appeal allows one party to the lawsuit to question different aspects of the court's ruling. Previously, the court had rejected for the second time the settlement request submitted by Ripple and the SEC, which proposed to reduce the fine to $50 million and revoke the permanent ban on Ripple. Ripple ultimately chose to accept the original $125 million civil penalty, and the permanent ban is expected to remain in effect. Ripple CEO Brad Garlinghouse said that Ripple's years-long lawsuit with the U.S. SEC is about to turn a new page and end this chapter.

Earlier news , the SEC and Ripple asked the court to rule on a fine of US$125 million, seeking to end years of litigation.