Ripple Settlement Reached: SEC and Ripple Agree on Major Deal Following Legal Battles

The U.S. Securities and Exchange Commission (SEC) has reached a settlement agreement with Ripple Labs, the company facing accusations of selling XRP as an unregistered security. The deal will see the SEC drop its injunction against Ripple and reduce their penalty to $50 million. Following the announcement, SEC member Caroline Crenshaw criticized the settlement, arguing it undermines investor protection by weakening the court’s role in interpreting securities laws.