The Ripple's Chief Legal Officer, Stuart Alderoty, has announced an update for the SEC Ripple lawsuit.

This update confirms the end of this four-year-long legal battle and clarifies some of the details of the settlement.

The U.S. Securities and Exchange Commission (SEC) has dropped its appeal of a lower court ruling that largely favored Ripple in their four-year-long lawsuit. This development brings to an end one of the most-watched cases in the cryptocurrency industry. The lawsuit, which began during the previous administration's term, saw the S.E.C aiming for a $2 billion fine from Ripple. However, the judge presiding over the case made adjustments, reducing the fine to $150 million and imposing a ban on institutional purchase of the XRP token.

Despite acknowledging that the XRP token "is not necessarily a security on its face," the judge introduced this limitation, which remains in effect today. In August, Ripple paid the $50 million to the New York court, and now the remaining $75 million will be returned to the crypto giant. The case began when the S.E.C accused Ripple of selling XRP without registering it as a security.

Announcing the good news with the community, Ripple’s Chief Legal Officer, Stuart Alderoty, also shared some details of the settlement. According to his X post, the S.E.C will be keeping $50 million of the $125 million to be paid by Ripple. The lower court had previously ruled in favor of Ripple on most of the S.E.C’s claims and ordered the S.E.C to pay Ripple’s legal fees and return a portion of the $125 million to Ripple.

The final crossing of t's and dotting of i's - and what should be my last update on SEC v Ripple ever...

Last week, the SEC agreed to drop its appeal without conditions. @Ripple has now agreed to drop its cross-appeal. The SEC will keep $50M of the $125M fine (already in an...

This post is a part of a new series of posts on X, formerly Twitter, in which legal and political issues are being discussed in detail.

As part of the agreement, the S.E.C will not be seeking any further penalties or sanctions against Ripple. The S.E.C's decision to drop its appeal comes after months of speculation and anticipation from the crypto community. Many had expected the S.E.C to appeal the lower court's ruling, which was seen as a major victory for Ripple and the crypto industry as a whole.

The S.E.C's lawsuit against Ripple was one of the highest-profile cases to be brought by the agency in recent years. The agency had accused Ripple of violating federal securities laws by selling XRP without registering it as a security.

The case was also closely watched by the crypto industry, as it could have major implications for the regulation of digital assets in the U.S. The lower court's ruling in favor of Ripple was seen as a setback for the S.E.C's efforts to expand its oversight of the crypto sector.

The case is now closed, and all parties have agreed to bear their own legal fees and expenses. The case will be archived in the appropriate federal and state administrative and/or judicial archives.

The case will be archived in the appropriate federal and state administrative and/or judicial archives.

This development is sure to be welcomed by the crypto community, which has been closely following the case. The lawsuit was a major distraction for Ripple and its executives, and it could have had a chilling effect on innovation in the U.S. crypto industry.

With the case now closed, Ripple can focus on its core business of providing blockchain solutions to financial institutions around the world. The company is well-positioned to continue its growth in the coming years.

This case has major implications for the future of crypto regulation in the U.S. The lower court's ruling was a setback for the S.E.C's efforts to expand its oversight of the crypto sector. However, the S.E.C could still pursue an appeal of the lower court's decision.

The case is being closely watched by members of the crypto community, who are divided over whether the S.E.C should have brought the case in the first place. Some argue that the S.E.C's actions were an overreach of its authority and that they will stifle innovation in the U.S. crypto industry. Others argue that the S.E.C had a legitimate interest in ensuring that XRP was being sold in compliance with federal securities laws.

Only time will tell what the ultimate impact of this case will be. However, it is clear that the case has had a major impact on the crypto industry and will continue to be discussed for years to come.

This story is still developing and will be updated as more information becomes available.

Stay tuned for more updates on this case and other hot topics in the crypto industry.

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