TechFlow news — On May 9, according to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) and Ripple have submitted a joint settlement letter proposing to lift the injunction against Ripple and return $75 million in penalties. However, on May 8, SEC Commissioner Caroline Crenshaw issued a statement strongly opposing this settlement. She argued that the agreement would undermine the SEC's ability to regulate cryptocurrency firms and could erase investor protection achievements, creating a regulatory vacuum. Former federal prosecutor James Filan noted that the settlement still requires preliminary approval from Judge Torres and further proceedings in the appeals court before it can be finalized. The case originated in December 2020, when the SEC accused Ripple of illegally selling unregistered securities.
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