Ripple and SEC Propose $125M Settlement to End XRP Lawsuit

In a move towards potential resolution, Ripple Labs and the U.S. Securities and Exchange Commission have proposed a settlement that would split a $125 million civil penalty, potentially ending one of the longest-running legal battles in the cryptocurrency industry. The joint proposal, filed with the Manhattan federal court on June 12, requests to dissolve the existing injunction on the previously imposed penalty, which is currently held in escrow by the court. Under this plan, $50 million would be paid to the SEC while the remaining $75 million would be returned to Ripple.