According to Golden Finance, the US Securities and Exchange Commission (SEC) and blockchain company Ripple recently submitted the latest documents to the court, jointly demanding a judgment on the ruling related to a $125 million fine, aiming to end this legal dispute that has lasted for nearly five years.
Looking back at the incident, the SEC previously filed a lawsuit against Ripple, accusing it of violating securities laws by selling XRP tokens. This lawsuit has drawn widespread attention in the cryptocurrency industry and is also regarded as a landmark case in the field of cryptocurrency regulation. As the cryptocurrency market develops and the regulatory environment continues to change, the SEC’s regulatory attitude towards cryptocurrencies has undergone significant shifts. Against this backdrop, the two sides are jointly seeking a final solution this time. In the court documents submitted, both sides cited the key factor of the change in the SEC’s regulatory attitude.
This protracted lawsuit not only profoundly affected the business development of Ripple Company, but also provided an important reference for the regulation of the cryptocurrency industry. Nowadays, both sides are actively promoting the resolution of the dispute through a $125 million fine ruling. If the court makes a final judgment, it will bring this far-reaching cryptocurrency regulatory case to an end and also have a significant impact on the subsequent compliance development of cryptocurrency enterprises and the regulatory enforcement of the SEC. At present, both the industry and the legal community are closely monitoring the next move of the court and the ultimate direction of the case.
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