The SEC and Ripple Labs have jointly requested a Manhattan District Court to dissolve the injunction in their ongoing legal case
The U.S. Securities and Exchange Commission (SEC) and Ripple Labs have jointly requested a Manhattan District Court to dissolve the injunction in their ongoing legal case and release a $125 million civil penalty currently held in escrow.
Their proposal suggests that $50 million of the penalty be paid to the SEC, while the remaining $75 million would be returned to Ripple. This joint motion follows a May decision by Judge Torres, who previously denied a similar request. The filing cites “exceptional circumstances,” including a settlement, the SEC’s shift in cryptocurrency policy, and a mutual desire to avoid further litigation, as reasons to modify the final judgment and bring the years-long case toward resolution.
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