Ripple to drop cross-appeal against SEC, to pay $50m fine

Ripple has agreed to abolish his appeal against the American Commission for Securities and Exchange, according to the Legal Director of Ripple, Stuart Alderoty.

Only a few days after the dry abandoned its file against XRP (Xrp) Creator Ripple, the company has confirmed that it also drops its counter-appeal.

In a PublishAlderoty said the two parties had not only agreed to withdraw their respective calls, but also set a reduced fine, reducing the Original penalty of $ 125 million $ 50 million.

“The final passage of T and the points of i’s – and what should be my last update on dry v ripple never,” wrote Alderoty. “Last week, the SEC agreed to delete its unconditional call. Ripple has now agreed to lower his trick.

The SEC should also ask the judge Analisa Torres to raise the standard “obey the law” imposed on Ripple following the agency’s request.

Not a matter made

However, these agreements remain subject to a vote by the Commission. Final documentation and other standard legal proceedings must also be completed. Once finalized, the Ripple against SEC affair, which began in December 2020, will officially end.

The latest news around the case is taking place when the SEC takes a full turn after the release of former President Gary Gensler. Report that the regulator was Wrapping his file against Ripple also surfaced.

As part of the new interim president Mark Uyeda, the SEC has, in recent weeks, abandoned surveys and closed several large -scale proceedings, including those against the exchanges of Crypto Coinbase and Kraken.

A more pro-innovation position marked this new management, moving away from the regulatory approach by application observed during the mandate of peopleler. Among the changes: meetings of the round touch of the Crypto Task Force, now led by Commissioner Hester Peirce.

Meanwhile, US President Donald Trump take For the new SEC president, Paul Atkins is expected to take over in the coming weeks.