Ripple Reaches Settlement Agreement with SEC, Penalty Reduced

The U.S. Securities and Exchange Commission (SEC) has officially filed a settlement agreement with Ripple, the blockchain company behind XRP. This development comes after months of legal battles between the two parties over XRP’s classification as a security. 50 million dollars will be the penalty imposed on Ripple. The remaining $75 million originally sought by the SEC will be returned to Ripple.