SEC’s Caroline Crenshaw Slams Ripple vs SEC Settlement, Says ‘This Isn’t a Settlement I Can Support’
XRP Lawsuit Update Today: Ripple Labs and the US Securities and Exchange Commission (SEC) officially reached a settlement in their long-year-old legal battle. According to Attorney James K. FilanBoth parties asked the court to approve the deal, which included a $ 125 million penalty paid by Ripple and the return of $ 75 million from the escrow.
Finishing Steps to Ripple VS SECRIPE VS SEC
The court still needs to approve some final steps:
- Judge Torres should decide whether to lift the injunction and allow Escrow funds to be distributed – $ 50 million in the SEC, and the remaining $ 25 million back to Ripple.
- Once approved, both sides will ask the appeal court to reemand the case for the official closure.
- Subsequently, the ripple and the SEC will move to end their pending appeal.
If these steps are completed, one of the highest profile cases in crypto history will officially close.
Sec Commissioner Crenshaw Slams XRP Lawsuit Settlement
However, not all of the SEC is on board. Commissioner Caroline Crenshaw in public is spreadingCalling to Revial A “Regulatory retreat” and a threat to investor protection.
“It's not a regulating that I can support,” Creshaw said. “Ripple walks away with a reduced penalty and freedom to sell the XRP. That's not a win. That's a backwards.”
Crenshaw emphasized that Ripple was found guilty of illegal institutional sale of XRP, still receiving what he described as a “free pass.”
Is the SEC losing its grip on crypto?
The fiery dissent of the Crenshaw features growing divisions within the SEC. He warned that the deal sets up a dangerous precedent, potentially weakening the future crypto implementation. Call his statement judicial investigation of regulating and warned this may damage the public's confidence in the regulator.
As Ripple celebrated, the broader crypto market noticed the softening of the SEC. The raised injunction with XRP may lead to broader optimism in the market, but Crenshaw's comments add concerns about the regulation of the future of US crypto.
