The post Ripple Notches More Big Wins As It Wraps Up Landmark Crypto Case With SEC ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.

Advertisement &nbsp &nbsp The SEC’s years-long crusade against the crypto industry seems to be over. The final chapter closed on Tuesday, when Ripple’s chief legal officer, Stuart Alderoty, announced that the company agreed to drop its cross-appeal with the U.S. Securities and Exchange Commission and will pay a reduced fine of $50 million — considerably lower than the original $125 million imposed penalty. Ripple Will Get $75 Million Refund As reported by ZyCrypto last week, Ripple CEO Brad Garlinghouse revealed that the Securities and Exchange Commission had dropped its appeal in the prolonged case regarding the XRP cryptocurrency. Now, Ripple has also agreed to drop its cross-appeal against the SEC in the US Court of Appeals for the Second Circuit. A cross-appeal would have given Ripple an opportunity to contest its $125 million liability. However, Alderoty indicated that the SEC will keep only $50 million of the amount in escrow — the remaining $75 million will be returned to the blockchain firm. “The SEC will keep $50M of the $125M fine (already in an interest-bearing escrow in cash), with the balance returned to Ripple,” the Ripple CLO posted on X in what could be his potential “last update” on the case. “The agency will also ask the Court to lift the standard injunction that was imposed earlier at the SEC’s request. All subject to Commission vote, drafting of final documents and usual court processes.” Advertisement &nbsp The original suit centered on allegations that Ripple raised $1.3 billion through the sale of its XRP token without registering it as a security, resulting in a multi-year-long bruising legal standoff. Ripple got a partial ruling in its favor back in 2023, but the SEC filed an appeal seeking to have that decision overturned. District Judge Analisa Torres found that Ripple’s programmatic sales of…

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Filed under: News - @ March 26, 2025 11:16 am