The SEC and Ripple are trying to settle their long-running legal battle. They’ve asked a higher court to put their appeals on hold while they work out the details with the trial judge.
A Proposed Settlement
The proposed deal involves Ripple paying $50 million – a significant reduction from the original $125 million penalty. The remaining money and interest would be returned to Ripple. This settlement hinges on the trial judge lifting a court order that restricts Ripple’s operations.
Roadblocks and Breakthroughs
Initially, the trial judge rejected the settlement. However, both sides resubmitted their request, arguing that continuing the fight would waste court resources and that the SEC’s shift in approach to crypto enforcement supports a settlement. This new SEC stance is a big change from their previous hardline approach under the former chair.
The Judge’s Decision: The Key
The trial judge’s decision is crucial. If she agrees to lift the restrictions and reduce the penalty, the appeals process will likely end. If she refuses, the appeals will resume.
What’s Next?
The situation remains uncertain. The outcome will depend entirely on the trial judge’s decision. The price of XRP (Ripple’s cryptocurrency) is being closely watched as the legal battle unfolds.
