TechFlow news, March 12 — According to Forbes business reporter Eleanor Terrett, the U.S. Securities and Exchange Commission's (SEC) lawsuit against Ripple is nearing its conclusion and may end soon.
Two sources familiar with the matter said the delay in reaching an agreement stems from Ripple's legal team currently negotiating terms of the district court's August ruling, seeking more favorable conditions. That ruling imposed a $125 million penalty on Ripple and permanently barred the company from selling XRP to institutional investors.
The sources noted that Ripple argues if the SEC's new leadership is effectively "clearing the enforcement records" for all previously investigated cryptocurrency firms, then why should Ripple still be penalized. Accepting Judge Torres' ruling would mean Ripple essentially admits wrongdoing—yet now even the SEC itself appears uncertain whether any violation occurred.
