Catenaa, Friday, June 13, 2025-Ripple Labs and the US. Securities and Exchange Commission jointly asked a federal court to approve a settlement over a disputed $125 million fine, aiming to close a nearly five-year legal fight over XRP token sales.
In a filing submitted Thursday to the US. District Court for the Southern District of New York, both parties urged the court to dissolve an earlier injunction against Ripple and split the penalty, with $50 million paid to the SEC and the remaining $75 million retained by Ripple.
The motion cited recent policy shifts at the SEC in its approach to cryptocurrency as justification for the resolution.
The case stems from a 2020 SEC lawsuit alleging Ripple raised $1.3 billion through unregistered securities sales. A 2023 ruling by Judge Analisa Torres found that while some sales of Ripple’s XRP token didn’t violate securities laws, direct sales to institutional investors did, prompting the proposed fine.
Efforts to finalize the case stalled in May when Torres denied a prior request, noting the high legal threshold required to lift the injunction.
Ripple and the SEC now argue that changes in the SEC’s regulatory posture, including dropped charges against other crypto firms and the creation of a crypto task force, constitute “exceptional circumstances” warranting final approval of the settlement.
Ripple CEO Brad Garlinghouse earlier claimed the legal battle had effectively concluded. If approved, Thursday’s proposal would formally end the SEC’s case against Ripple and avoid further appeals.
