Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have officially reached a deal that, if approved by a judge, will bring their years-long legal battle to a close.
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According to a settlement agreement filed in New York on Thursday, both parties have agreed to a $50 million penalty — a portion of the $125 million fine initially imposed last year by Judge Analisa Torres of the Southern District of New York (SDNY), and a tiny fraction of the massive $2 billion fine initially requested by the SEC.
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In her 2023 ruling, Judge Torres found that Ripple violated securities laws in selling its native XRP token to institutional investors, but did not violate securities laws in putting XRP on
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