SEC Official Raises Concerns About Ripple Settlement, Signaling Potential Legal Conclusion

A key U.S. Securities and Exchange Commission (SEC) commissioner has publicly voiced strong opposition to the proposed settlement between the agency and Ripple Labs, potentially signaling a close end to a protracted legal battle over XRP. The SEC and Ripple submitted a joint request in May 2023 for court approval of a $125 million civil penalty reduction to be returned to Ripple. This move suggests a desire to resolve the high-profile case. However, SEC Commissioner Caroline Crenshaw argues that this agreement undermines legal precedents, raises questions about investor protection and disrupts the agency’s crypto enforcement efforts.