BlockBeats News, May 9th, According to court documents, Ripple has reached a settlement agreement with the U.S. Securities and Exchange Commission (SEC), intending to lift the ban imposed on Ripple in a court ruling scheduled for August 2024, and to pay only $50 million of the $125 million civil fine to the SEC, with the remaining $75 million to be returned to Ripple.

Both parties have agreed not to appeal the decision or seek to overturn the previous ruling. This case, which has been ongoing since 2020, involves the sale of XRP as a security. SEC Commissioner Caroline Crenshaw publicly opposed the agreement, stating that it undermines regulatory authority, disrupts court rulings, and exacerbates regulatory gaps. The agreement still requires a "declaratory judgment" from the court and approval from the appellate court before it can take effect.