Brief
- The dry in December 2020 struck Ripple with a trial of $ 1.3 billion on sales of XRP tokens.
- Ripple and the SEC have now finished the case – and Ripple will pay $ 50 million to settle it.
- XRP, the fourth largest cryptocurrency by market capitalization, is up on Thursday.
The Securities and Exchange Commission and Ripple Labs officially settled a long -term trial – more than four years after the regulator continued the firm Fintech.
Top Wall Street La Sec regulator announcement The regulation Thursday, after the leaders of Ripple declared in March that the agency retired. Ripple and two of its leaders, CEO Brad Garlinghouse and Executive President Chris Larsen, will pay a total of $ 50 million to the dry to settle the case, the announcement said. Ripple had previously disclosed the $ 50 million agreement in March.
The dry under the previous president Gary Gensler – who lengthened after the major crypto companies during the Biden administration – had initially requested This undulation pays a fine of $ 2 billion.
The judge of the Anal Anal Torres district court ordered Ripple to pay a fine of $ 125 million last year. The SEC said that by virtue of the settlement agreement filed with the court on Thursday, $ 50 million would go to the regulator, the rest of the entire funds (just over $ 75 million) returning to Ripple. Judge Torres must approve the agreed regulations.
Decipher could not immediately reach Ripple to comment.
The dry in 2020 hit Ripple with a trial of $ 1.3 billion, alleging that the company sold not registered titles in the form of cryptocurrency Xrp to investors to collect funds. Then, in 2023, a judge judge These XRP programmatic sales on cryptocurrency exchanges to retail investors are not considered to be titles.
The decision was applauded by Ripple and the cryptography industry, despite the judge who also judged that $ 728 million of tokens for institutional sales did constitute sales of non -recorded securities.
Since President Donald Trump took office, the dry under his new direction adopted a softer position towards cryptographic space and abandoned a number of proceedings and surveys. President Trump campaigned with promises to help cryptographic industry.
XRP is the fourth largest existing digital part, with a market capitalization of more than $ 132 billion. The founders of Ripple created XRP and the company now uses it for its payment services.
The price of XRP increased after the news; Cryptocurrency is now at a price of $ 2.30, up more than 8% over a period of 24 hours, Coingecko shows.
Edited by Andrew Hayward
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