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Ripple would get $75M back under SEC settlement
- The SEC and Ripple Labs reached a settlement announced on May 8, 2024, reducing Ripple's penalty to $50 million and lifting the injunction against the company.
- The settlement followed a 2020 lawsuit accusing Ripple of illegally selling XRP as an unregistered security, and it requires approval from Judge Analisa Torres.
- The agreement allows Ripple to recover over $75 million held in escrow, resolves cases against executives Brad Garlinghouse and Christian Larsen, and retains the summary judgment ruling.
- SEC commissioner Caroline Crenshaw sharply opposed the deal, saying it weakens enforcement, disserves investors, and signals the agency will not act if Ripple sells unregistered XRP again.
- The settlement reflects a shift in the SEC’s crypto policy toward less aggressive enforcement, raising concerns about investor protection and regulatory clarity going forward.
12 Articles
12 Articles
africabusiness.com
ZawyaRipple could be cracking the blockchain banking code, say D24
Ripple is positioning itself as a key player in bridging traditional banking and blockchain through RippleNet, offering fast and cost-effective cross-border payments, gaining traction among major financial institutions despite ongoing regulatory challenges. The post Ripple could be cracking the blockchain banking code, say D24 appeared first on AfricaBusiness.com.
SEC - Settlement Reached in Ripple Case! Immediately Following Heavy Criticism from SEC Member!
The post SEC – Settlement Reached in Ripple Case! Immediately Following Heavy Criticism from SEC Member! appeared on BitcoinEthereumNews.com. The U.S. Securities and Exchange Commission (SEC) announced on May 8 that a settlement agreement has been reached in the XRP lawsuit against Ripple Labs, CEO Brad Garlinghouse, and co-founder Christian Larsen. According to the agreement, the SEC and Ripple will jointly file a motion with the court to lift …
Ripple Agreement Triggers Harsh Rebuke from SEC Official
Crenshaw criticized the agency for significantly weakening the impact of the court’s original order. In her view, the settlement dilutes the authority of the judiciary and the SEC’s ability to enforce securities laws. She expressed concern that this compromise will set a troubling precedent, suggesting that the SEC’s leadership may be intentionally stepping back from a strong legal position. SEC Allegedly Fears Losing in Higher Court Interesting…
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