Former SEC lawyer Marc Fagel He revealed that a fine of $ 125 million in Ripple vs. The SEC case was paid to the US Treasury. This officially ends the long -term legal battle between the cryptographic company and the regulator.
Ripple vs. The SEC case ends when the cryptographic company expresses a cash sentence
IN X PostFagel confirmed that a penalty of $ 125 million in the Ripple vs. SEC was paid last month to the US Treasury. Made a letter to the speech to Analysis of Judge Torreswho stated that both parties agreed to release funds from Escrow for a cryptographic company to pay full penalty for the court and statutory interest.
In addition, the letter revealed that SEC provided the appropriate transfer instructions, after which Ripple ordered the bank to make a payment, and the bank confirmed that the agreed amount was exempt. Meanwhile, the fund’s balance sheet was returned Cryptographic companyWith all these procedures formally completing the Ripple vs. Sec.
In particular, this payment occurs Approval of the Court of Appeal From the application of both parties to dismiss their appeal regarding Ripple vs. Sec last month. $ 125 million was kept in a deposit while Ripple and SEC appeals. The cryptographic company asked for this as an order to prevent SEC in the course of the appeal, because it was possible to reduce the amount.
The appeal was not continued as planned, because the appearance of the Pro-Crypto Sec administration after Trump’s return to the White House led to the resolution of both sides. However, Judge Torres decided to accept a settlement agreement and ordered the ripple to continue to pay Penalty $ 125 million. Both sides agreed to dismiss their appeals in Ripple vs. Sec and they just follow the judgment of judge Torres.
The claim is no longer responsible for price actions
IN X PostLegal expert Bill Morgan noticed that the excuse of the claim ripple vs. SEC has conducted its course due to the further lack of XRP or shares with a flat price. Basically, the claim cannot be liable price XRP Worse results moving forward. Altcoin increased to USD 3.4 after a joint application to dismiss the case, but since then sold this level below.
The price of XRP is currently in a decline among the wider correction of the cryptographic market. Morgan indicated that the current decrease in XRP is caused by a sedate correlation with bitcoins. It happened when he disregarded the fact that Altcoin fell during this period, despite several stubborn foundations that appeared.
At the time of writing this text, the price of XRP is around USD 2.87, in the last 24 hours, according to data with coinmarketcap.
A distinguished picture from Getty Images, chart from TradingView.com
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