After the U.S. Securities Exchange and the Securities Commission decided not to continue its mutual appeal against the agency.
As reported in X, Ripple’s legal director Stuart Aldeloty said after a series of negotiations agreed with Secrsima. Please do not continue to appeal.
This is a process started by Ripple in 2024 to reject some of the judgment issued by Judge Analysatore in 2023. This opposed the appeal the SEC will present on April 16th, and he gave up last week.
In her opinion, Judge Torres pointed it out. XRP was sometimes a title value. Based on this ruling, he did not register institutional sales (before demand), granted the company and administered an additional $125 million fine.
That’s a violation that led to a magistrate. Issuing a permanent court order Regarding future institutional sales of cryptocurrencies.
All these factors were taken into consideration in negotiations. Maintain $50 million The remaining fines will be returned to Ripple.
As the company’s CEO pointed out, the company’s Brad Gerlinghouse partially fulfilled the order and deposited it. The amount of the guaranteed account fine.
In an interview with Bloomberg, the executive said his interest put it down. The court order will be revoked This limits the institutional sales of XRP. According to the Legal Director, it is the one in charge of the SEC, which now has to step in front of the court due to ripples.
The agency also asks the court to lift standard precautions previously imposed at the SEC request. All of this is subject to committee votes, final documents drafting, and the usual judicial process.
Stuart Alderolly, head of Ripple’s legal affairs.
Once the court order is withdrawn, Ripple is expected to raise capital in the capital market, and will ultimately cite the US Stock Market (OPI). A situation that has caused concern among investors. The door will also open For approval of XRP ETF.
As reported by Cryptonoticia, this agreement seeks to resolve the legal disruption that the company was involved in, despite the favorable actions of the SEC, and is expected to be unraveled in a few months.
It is also pending that the SC internally approves points of this Agreement prior to making the public declaration. What is expected to happen at this week’s closed door meeting. after that, Official statements may be issued Make sure the case for Ripple is closed.
(tagstotranslate)US
