After a protracted legal battle, Ripple has reached a $50 million settlement with the U.S. Securities and Exchange Commission (SEC), which is now collecting its hefty bill from the crypto firm.
The regulator had originally demanded $125 million in penalties and requested a permanent injunction against Ripple, aiming to halt the sale of XRP in the U.S. However, Judge Analisa Torres's ruling brought the case to a close with a lesser penalty and no injunction.
This decision has major implications for the crypto industry, as it provides clarity on the classification of crypto tokens and the potential for broad sanctions.
"The SEC's claims for a permanent injunction and a $125 million penalty were excessive, and we're pleased that the court saw fit to reduce both substantially," a Ripple spokesperson stated. "We're grateful to Judge Torres for her thoughtful and balanced decision, which brings this litigation to an
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