Ripple's $75M Fine Reduction Awaits SEC's April 10 Decision
The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is approaching a critical juncture. According to Ripple executives, the SEC has agreed to return $75 million of the $125 million fine imposed on Ripple last year, leaving Ripple with a remaining payment of $50 million to settle the case. However, the SEC has yet to officially confirm this agreement.
The SEC has scheduled a closed-door meeting for April 10, which is expected to be pivotal. Ripple's deadline to file its response in the appeal process is just days later, on April 16. If the SEC decides to withdraw its appeal regarding Ripple’s XRP sales during this meeting, the case could potentially be resolved. Otherwise, the legal battle may continue in court.
Legal expert Fred Rispoli, who has been closely following the case, predicts that something significant will happen before or on April 16. He estimates a 90% chance that the case will either settle or the appeal will be withdrawn, leaving only a 10% chance that Ripple will need to file its legal brief. Rispoli suggests that the two sides have likely reached an agreement behind the scenes, but the SEC has not made any public announcements yet, which is standard procedure for them.
The appeal in question revolves around whether Ripple’s XRP sales on exchanges were illegal. A judge had previously ruled that these sales were not securities, a significant victory for Ripple and the broader cryptocurrency industry. If the SEC officially drops its appeal, it would be a major step toward concluding the case permanently.
All eyes are now on the SEC’s April 10 meeting. If the SEC takes action, the legal battle could finally come to a close by April 16. Until then, Ripple’s fate and a key moment for crypto regulation remain in limbo. The outcome of this case could have far-reaching implications for the regulation of digital assets, setting a precedent for how other cryptocurrencies are treated in the future.
