The SEC and Ripple Labs have collectively requested a Manhattan District Court docket to dissolve the injunction of their ongoing authorized case
The U.S. Securities and Trade Fee (SEC) and Ripple Labs have collectively requested a Manhattan District Court docket to dissolve the injunction of their ongoing authorized case and launch a $125 million civil penalty at the moment held in escrow.
Their proposal means that $50 million of the penalty be paid to the SEC, whereas the remaining $75 million can be returned to Ripple. This joint movement follows a Could choice by Choose Torres, who beforehand denied the same request. The submitting cites “exceptional circumstances,” together with a settlement, the SEC’s shift in cryptocurrency coverage, and a mutual need to keep away from additional litigation, as causes to change the ultimate judgment and convey the years-long case towards decision.
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