The long -term lawsuit of the Ripple with SEC ended

Ripple agreed to withdraw its oncoming appeal to the US Securities and Exchange Commission (SEC), completing a long -term lawsuit with the regulator, said the chief lawyer of Stuart Olderoti. Previously, SEC withdrew its claims and will now return the Ripple part of the fine paid by the company, writes RBC Crypto.

“The last placement of the points over I, and what should be my last update in the SEC case against Ripple … last week, the SEC agreed to withdraw its appeal without any conditions. Now Ripple agreed to withdraw his oncoming appeal, ”Olderoti wrote on the social network Kh.

SEC filed a lawsuit against Ripple in December 2020. Then the regulator accused the company of attracting $ 1.3 billion due to sales of cryptocurrency XRP (XRP), which, according to the agency, was an unregistered security. In the summer of 2023, the Analysses Judge Torres decided that the sale of the XRP directly to institutional investors was a violation of the regulator rules, and there are no tokens to the tokens to retail investors on exchanges.

The SEC demanded that Ripple have a fine of $ 2 billion in this case, but Torres ordered the company to pay $ 125 million. The regulator petitioned for a revision of the entire proceeding, doubting the proper application of laws by the court.

In response to this, Ripple filed an oncoming appeal. “The court decision that XRP is not a security will not be appealed,” Olderoti said then.

Now the lawyer announced that the SEC will return the Ripple part of a fine of $ 125 million paid by the company. The regulator will leave $ 50 million, as they are already put on a deposit at interest, explained Olderoti. SEC will also ask the court to cancel the prohibitions imposed earlier on the company at its request.

According to the Ripple lawyer, now it all depends on the usual legal processes. “That’s all guys!” – summed up Alderoti.

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