美國證券交易委員會（SEC）已在與Ripple Labs的法律糾紛中正式提交了和解協議信

該文件提交給紐約南部地區的Analisa Torres法官，要求她對共同提議的和解的指示裁決。

The U.S. Securities and Exchange Commission (SEC) has formally filed the settlement agreement letter for its case with Ripple Labs, a major step toward closing the nearly five-year-old lawsuit.

美國證券交易委員會（SEC）已與Ripple Labs正式為其案件提交了和解協議信，這是邁向關閉近五年的訴訟的邁出邁出的一步。

The filing, submitted to Judge Analisa Torres of the Southern District of New York, requests her indicative ruling on a jointly proposed settlement.

提交給紐約南部地區Analisa Torres法官的文件要求她對共同提議的和解的指示裁決。

As part of the agreement, Ripple will pay $50 million to the SEC. This is part of the originally imposed $125 million fine, with the remaining $75 million, held in escrow, set to be returned to Ripple once the court approves the dissolution of the previous injunction. Both parties have also agreed to withdraw their ongoing appeal and cross-appeal.

作為協議的一部分，Ripple將向SEC支付5000萬美元。這是最初徵收的1.25億美元罰款的一部分，託管持有的剩下的7500萬美元將在法院批准解散以前的禁令後將返回到波紋。雙方還同意撤回其正在進行的上訴和交叉上訴。

After Judge Torres indicates whether she agrees to dissolve the injunction and release the escrow, the case will be sent back to her court from the Second Circuit Court of Appeals for a limited remand. Upon return, Ripple and the SEC will jointly file a motion to formalize the dissolution of the injunction and redistribution of the funds. Afterward, both appeals will be dismissed, fully ending the case.

在托雷斯法官指出她是否同意解散禁令並釋放託管後，該案將從第二巡迴上訴法院送回她的法院，以進行有限的還款。返回後，Ripple和SEC將共同提出動議，以正式解散禁令和資金的重新分配。之後，這兩個上訴將被駁回，完全終止了案件。

This legal process, mostly administrative at this stage, will formally conclude a case that began in December 2020. The SEC initially sued Ripple for allegedly conducting unregistered securities sales through its XRP token.

這一法律程序（主要是在此階段行政管理）將正式得出結論，該案始於2020年12月。 SEC最初起訴Ripple涉嫌通過其XRP代幣進行未註冊的證券銷售。

Following Donald Trump’s return to the presidency in late 2024, the SEC began dialing back on aggressive enforcement actions against crypto companies. In May 2025, the SEC has now dropped or settled many of the high-profile lawsuits from the Gensler era.

在唐納德·特朗普（Donald Trump）於2024年末返回總統職位之後，SEC開始撥打針對加密公司的積極執法行動。 2025年5月，SEC現在已經撤銷或解決了Gensler時代的許多備受矚目的訴訟。

The agency has also applied to dissolve the court injunction imposed in December 2020, a move that will allow for the release of the $75 million escrowed funds to Ripple.

該機構還申請解散2020年12月實施的法院禁令，此舉將允許將7500萬美元的託管資金釋放到波紋。

Moreover, the SEC has agreed to largely accept a ruling by Judge Analisa Torres, who oversaw the case. In March 2023, Judge Torres largely ruled in favor of the SEC, finding that Ripple had sold XRP to institutional investors in a manner that should have been registered with the SEC.

此外，SEC已同意在很大程度上接受監督此案的Analisa Torres法官的裁決。 2023年3月，托雷斯法官在很大程度上統治了SEC，發現Ripple已將XRP賣給了機構投資者，以應在SEC中註冊的方式。

However, Judge Torres also ruled that the SEC failed to sufficiently notify institutional investors about the legal implications of their XRP purchases from Ripple.

但是，托雷斯法官還裁定，SEC未能充分通知機構投資者從Ripple購買XRP的法律含義。

This part of Judge Torres’s ruling was a setback for the SEC, as the agency had argued that it did not need to notify institutional investors.

托雷斯法官的裁決的這一部分是SEC的挫折，因為該機構認為它不需要通知機構投資者。

After Judge Torres’s ruling, both parties planned to appeal to the Second Circuit Court of Appeals. However, they later announced that they had reached a tentative settlement agreement and would be applying to stay the appeals process.

托雷斯法官的裁決後，雙方計劃向第二巡迴上訴法院上訴。但是，他們後來宣布他們已經達成了一項初步和解協議，並將申請保持上訴程序。

The case then went into a period of quiet negotiation, with both parties aiming to finalize the agreement and have it approved by Judge Torres.

此案隨後進行了安靜的談判時期，雙方旨在敲定該協議並得到托雷斯法官的批准。

Finally, on May 9, 2025, the SEC filed the completed settlement agreement letter, signaling the final stage of this long-running legal dispute.

最終，在2025年5月9日，SEC提交了完成的和解協議信，這表明了這一長期進行的法律糾紛的最後階段。

The filing marks a significant development, especially considering the broader implications for the crypto industry. A decisive ruling in favor of the SEC could set a strong precedent for future cases.

該文件標誌著一個重大的發展，尤其是考慮到對加密貨幣行業的更廣泛影響。支持SEC的決定性裁決可以為將來的案件樹立強有力的先例。