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Ripple and the SEC have officially reached a settlement protocol, requesting the court to terminate the injunction and allocate the fine amount.
According to Wu, a joint motion filed by Ripple and the U.S. Securities and Exchange Commission (SEC) in the Federal District Court for the Southern District of New York shows that both parties have reached a settlement agreement and are requesting the court to issue a declaratory judgment to terminate the injunction against Ripple and release the 125 million dollar civil fine held in escrow. Under the agreement, Ripple will pay 50 million dollars to the SEC, and the remaining amount will be returned to Ripple.