SEC Drops Appeal Against Ripple

The lawsuit between SEC and Ripple has taken a significant step towards closure, after the U.S. authority announced it has dropped its appeal against the company. Although this means the SEC will no longer proceed with contesting the previous ruling, Ripple is still involved in its own appeal, aiming to reduce or eliminate the $125 million fine.

Attorney Fred Rispoli stated that Ripple could negotiate a substantial reduction in this fine, possibly down to around $10-12 million, a sum initially proposed by Ripple.

If negotiations continue in this direction, Ripple may reach an agreement with the SEC, which could lift certain restrictions placed on its operations, allowing the company to grow its business without further hindrances.