Summary
- It was reported that Ripple (XRP) and the U.S. Securities and Exchange Commission (SEC) have agreed to withdraw their cross-appeals.
- Stuart Alderoty, Ripple's Chief Legal Officer, mentioned the $50 million fine to be returned by the SEC.
- The agreement is considered a significant advancement in resolving the legal dispute between Ripple and the SEC.
The U.S. Securities and Exchange Commission (SEC) has withdrawn its appeal against Ripple (XRP), and Ripple has agreed to withdraw its cross-appeal against the SEC.
Stuart Alderoty, Ripple's Chief Legal Officer (CLO), explained on the 25th (local time) via X (formerly Twitter) that "of the $125 million fine imposed on Ripple by the court, $50 million will be held by the SEC, and the remainder will be returned to Ripple."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
