Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly submitted a motion for settlement, modifying the original judgment amid an evolving regulatory landscape.
The joint filing suggests a significant step towards concluding the prolonged legal conflict between Ripple and the SEC, potentially stabilizing XRP’s market position.
Ripple and the SEC have filed a joint motion which could decrease the $125 million penalty on Ripple. As part of the proposal, $50 million will be paid to the SEC, while $75 million will be returned to Ripple. According to lawyer Bill Morgan, "The strongest argument by the parties in the joint motion is that modifying the final judgment is a key step, especially given the evolving regulatory landscape and desire to avoid further litigation."
Ripple Labs' executives, including CEO Brad Garlinghouse, are central in this legal matter, while SEC Chair Gary Gensler represents regulatory perspectives in the proceedings. The judgment awaits approval from Judge Analisa Torres, with influential legal analysts expressing optimism about the potential outcome.
The legal proceedings have directly influenced XRP, Ripple’s native token. Although there's no explicit on-chain data indicating current shifts, historical trends show XRP prices are sensitive to legal developments. No major exchange actions, such as delisting or relisting XRP, have been reported in response to this latest motion.
If the motion is approved, it could have a favourable impact on Ripple’s market stability, encouraging more transparency in regulatory practices. The decision's expected alignment with legal norms mirrors resolutions in prior cases involving other crypto entities. Community stakeholders remain hopeful for a positive outcome.
Market observers and XRP stakeholders are watching closely as the legal battle's resolution takes shape. With a reduced penalty, Ripple stands poised to continue without the looming uncertainty that has historically affected its operations and market presence.
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