Bitcoin

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Giant

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Ripple Chief Legal Officer Stuart Alderoty has provided his final update on the high-profile legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC).
Alderoty confirmed in a statement that the SEC agreed last week to unconditionally drop its appeal. In return, Ripple agreed to drop its cross-appeal, according to Alderoty. As part of the settlement, the SEC will retain $50 million of the previously imposed $125 million fine, which will be held in cash in an interest-bearing escrow account. The remaining balance will be returned to Ripple.
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The SEC will also ask the court to lift the standard injunction previously imposed at the agency’s request, but Alderoty noted that those decisions are still subject to a vote by the SEC Commission, preparation of final documents and standard court processes.
This settlement marks the conclusion of a years-long legal dispute that has significantly impacted the cryptocurrency industry.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/breaking-ripple-chief-legal-officer-provides-final-update-on-xrp-sec-case-fine-is-changed/" rel="noopener noreferrer nofollow">BREAKING: Ripple Chief Legal Officer Provides Final Update on XRP-SEC Case, Fine Is Changed</a>

BREAKING: Ripple Chief Legal Officer Provides Final Update on XRP-SEC Case, Fine Is Changed

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