Key Takeaways
- The SEC and Ripple have officially resolved their legal dispute, ending all appeals and clearing the way for final enforcement actions.
- The settlement confirms Ripple’s $125 million penalty and upholds the court’s clarification that XRP is not a security for secondary market trades.
The long-running legal battle between Ripple Labs and the Securities and Exchange Commission has entered its final stage after the US Court of Appeals for the Second Circuit approved a joint stipulation dismissing the parties’ appeals, as confirmed by defense lawyer James Filan on Friday.
The settlement requires Ripple to pay the penalty and comply with an injunction from the Southern District of New York. Judge Analisa Torres previously rejected a proposed reallocation that would have split the fine between $50 million to the SEC and $75 million returned to Ripple. The company must now adhere to the original enforcement terms.
Judge Torres’ July 2023 ruling remains in effect, which determined that XRP is not a security when traded on secondary markets, though institutional sales may still fall under securities regulations.
This is a developing story.
Source: https://cryptobriefing.com/ripple-sec-settlement-xrp-enforcement/
