美国证券交易委员会（SEC）已在与Ripple Labs的法律纠纷中正式提交了和解协议信

该文件提交给纽约南部地区的Analisa Torres法官，要求她对共同提议的和解的指示裁决。

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.

美国证券交易委员会（SEC）已与Ripple Labs正式为其案件提交了和解协议信，这是迈向关闭近五年的诉讼的迈出迈出的一步。

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

提交给纽约南部地区Analisa Torres法官的文件要求她对共同提议的和解的指示裁决。

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.

作为协议的一部分，Ripple将向SEC支付5000万美元。这是最初征收的1.25亿美元罚款的一部分，托管持有的剩下的7500万美元将在法院批准解散以前的禁令后将返回到波纹。双方还同意撤回其正在进行的上诉和交叉上诉。

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并释放托管后，该案将从第二巡回上诉法院送回她的法院，以进行有限的还款。返回后，Ripple和SEC将共同提出动议，以正式解散禁令和资金的重新分配。之后，这两个上诉将被驳回，完全终止了案件。

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.

这一法律程序（主要是在此阶段行政管理）将正式得出结论，该案始于2020年12月。SEC最初起诉Ripple涉嫌通过其XRP代币进行未注册的证券销售。

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.

在唐纳德·特朗普（Donald Trump）于2024年末返回总统职位之后，SEC开始拨打针对加密公司的积极执法行动。 2025年5月，SEC现在已经撤销或解决了Gensler时代的许多备受瞩目的诉讼。

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.

该机构还申请解散2020年12月实施的法院禁令，此举将允许将7500万美元的托管资金释放到波纹。

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监督此案的Analisa Torres法官的裁决。 2023年3月，托雷斯法官在很大程度上统治了SEC，发现Ripple已将XRP卖给了机构投资者，以应在SEC中注册的方式。

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，托雷斯法官还裁定，SEC未能充分通知机构投资者从Ripple购买XRP的法律含义。

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.

托雷斯法官的裁决的这一部分是SEC的挫折，因为该机构认为它不需要通知机构投资者。

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.

托雷斯法官的裁决后，双方计划向第二巡回上诉法院上诉。但是，他们后来宣布他们已经达成了一项初步和解协议，并将申请保持上诉程序。

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.

此案随后进行了安静的谈判时期，双方旨在敲定该协议并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.

最终，在2025年5月9日，SEC提交了完成的和解协议信，这表明了这一长期进行的法律纠纷的最后阶段。

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.

该文件标志着一个重大的发展，尤其是考虑到对加密货币行业的更广泛影响。支持SEC的决定性裁决可以为将来的案件树立强有力的先例。