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International Business Times

Business

Marvie Basilan

SEC vs Ripple: Largest $XRP Holder Drops Cross-Appeal, To Pay $50M Out Of $125M Fine

Ripple SEC XRP Stuart Alderoty Lawsuit Crypto fintech SECGov

Ripple has decided to drop its cross-appeal in the SEC's lawsuit. (Credit: CryptoWallet.com Images/flickr.com)

KEY POINTS

Stuart Alderoty said he expects the announcement to be his 'last update on SEC v Ripple ever'
Ripple agreed to pay $50 million as opposed to the original $125 million penalty
The SEC will also ask the court to lift the standard injunction imposed earlier in the case

Fintech firm Ripple has dropped its cross-appeal in the U.S. Securities and Exchange Commission (SEC) that spanned four years, marking a major milestone in discussions to officially end the lawsuit.

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