The ongoing legal battle between Ripple and the SEC has been a hot topic in the cryptocurrency world since December 2020. The SEC accused Ripple of conducting an unregistered securities offering by selling XRP, leading to a lawsuit that has seen multiple twists and turns.
Ripple has secured several crucial victories in the courtroom, giving them an advantage in the case. These victories have included rulings that programmatic sales of XRP do not constitute investment contracts and the dismissal of charges against Ripple’s CEO and Executive Chairman.
The latest development in the case involves a dispute over the potential penalty that Ripple may face. The SEC initially sought a $2 billion penalty, while Ripple argued for a maximum of $10 million. The SEC has since proposed a $102.6 million penalty, citing other similar cases as precedent for the amount.
While the case is approaching its final stages, a resolution may still be far off due to the complexity of the legal process and potential appeals. Some experts believe that a settlement could be reached in the coming weeks, with speculations about the terms of the agreement, including a penalty of no more than $25 million for Ripple.
Overall, the outcome of the Ripple vs SEC lawsuit remains uncertain, but the recent developments suggest that a resolution could be on the horizon. Stay tuned for more updates as the case continues to unfold.