SEC and Ripple Request approval for settlement agreement

The legal battle between Ripple (XRP) and the American stock market watchdog SEC seems to take a crucial turn. According to journalist Eleanor Terrett, both parties jointly requested the court in Manhattan to approve a settlement agreement.

75 million back to Ripple, 50 million to sec

In the joint motion, Ripple and the SEC propose to definitively distribute the previously imposed fine of 125 million dollars, which has been in Escrow so far. 50 million dollars would go to the SEC of that amount, while 75 million dollars are refunded to Ripple.

The request was submitted to the court of the Southern District of New York, led by Judge Analisa Torres. With this settlement, both parties hope to avoid further legal proceedings and a possible appeal.

Impact on XRP race and market sentiment

For many investors, the case between Ripple and the SEC was actually already completed. The key question whether XRP should be considered as an effect was answered months ago. What remained was, in particular, was still a bonus on the height of the fine. Nevertheless, the news about a formal settlement is received positively.

Investors hope that this completion will finally end the remaining legal uncertainty. Moreover, the fine is relatively mild for Ripple. The amount of $ 75 million can be used for innovation and international expansion of the payment network. In the long term, that could stimulate the demand for XRP.

According to analysts, an official settlement will further strengthen the confidence in Ripple. This other crypto companies can also give an example of how they can work together with supervisors such as the SEC.

Possible shift in supervisory policy

Nevertheless, it remains to be seen whether the judge will approve the settlement request this time. Earlier, in May, Judge Analisa Torres rejected a similar request. However, according to journalist Eleanor Terrett, the circumstances have now changed essentially. The joint submission by both parties, the perspective on a substantive agreement and signals that the SEC reverses its policy with regard to crypto can lead to a different decision.

If the settlement is approved, it can also be an important direction guide for future regulations in the American crypto sector.