Ripple Agrees to Cancel Appeal to SEC, Case Close Soon?

Bittime - Good news comes from the world of crypto. Ripple finally dropped its appeal against the US Securities and Exchange Commission (SEC). What is the impact? Come on, check the review!

This decision marks the final chapter of a legal battle that has been ongoing since December 2020. Does this mean that Ripple is now completely free from the legal traps of the SEC? Keep following this article.

Ripple Drops Appeal, Fines Slashed

In the latest announcement made by Ripple's Chief Legal Officer, Stuart Alderoty, on the X platform (formerly Twitter), he confirmed that Ripple and the SEC have reached an agreement to both drop their appeals.

This decision not only ends a grueling legal battle. However, this decision also reduces the fines previously imposed on Ripple. 

Read also: The Impact If SWIFT Uses XRP for Cross-Border Money Transfers

Of the total fine of $125 million (Rp. 1.93 trillion), Ripple only had to pay $50 million (Rp. 775 billion). The remaining funds that have been held in interest-bearing escrow will be returned to Ripple.

SEC Under New Leadership, Softer Regulation?

This move comes after the SEC underwent a change in leadership. Former SEC Chairman Gary Gensler is known for his strict approach to the crypto industry, including intensifying lawsuits against various blockchain projects. 

However, under the interim leadership of Mark Uyeda, the SEC appears to be taking a more pro-growth approach to innovation. The US regulator has begun to stop various lawsuits against crypto companies such as Coinbase and Kraken.

Not only that, the Crypto Task Force under Commissioner Hester Peirce has also started to hold more open discussions regarding regulations that better support the crypto industry. 

In fact, Paul Atkins, who is said to be President Donald Trump's choice for the next SEC Chairman, is expected to implement more crypto-friendly policies.

Read also: Ripple Vs SEC Case Update: SEC Drops Case, but Is It a Worst Scenario for Ripple?

How will it impact Ripple and XRP?

For Ripple, this deal could be a breath of fresh air. With the lawsuit nearing completion, the company can now focus more on developing its ecosystem, including expanding adoption of XRP as a cross-border payment solution.

On the other hand, the market also responded positively to this news. The price of Ripple

Ripple Vs SEC Not 100% Completed, Still Waiting for Administrative Process

Although the SEC and Ripple have reached an agreement, this process is not completely complete. The SEC still has to submit a formal request to Judge Analisa Torres to lift the legal compliance order previously imposed against Ripple. 

Apart from that, the results of this agreement are still waiting for official approval from the SEC commission before it is truly final. However, with the direction of the resolution of this case becoming clearer, many parties believe that the Ripple vs SEC legal dispute will truly end soon.

FAQ

1. How much fine should Ripple pay to the SEC?

The initial fine set at $125 million (Rp. 1.94 trillion) has now been reduced to $50 million (Rp. 775 billion), which has been deposited in an interest-bearing escrow account and will be handed over to the SEC.

2. Is the Ripple vs SEC case really over?

While this agreement is a major step towards resolving the case, there are still formal processes to be completed, including final approval from the Commission and the removal of the supervisory order against Ripple.

3. What impact will the SEC's new policy have on the crypto industry?

Under new leadership, the SEC appears more open to crypto innovation, which could mean more flexible regulation and less legal pressure on blockchain projects like Ripple.

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Reference 

Crypto.news, Ripple to drop cross-appeal against SEC, to pay $50m fine, accessed 26 March 2025.

Author: Y