SEC and Ripple ask court for $125 million fine, seeking to end years of litigation

Odaily Planet Daily News Ripple and the U.S. Securities and Exchange Commission (SEC) filed a joint motion with the Federal District Court for the Southern District of New York, requesting the court to lift the ban on Ripple and reach a settlement on a $125 million fine - $50 million of which will be paid to the SEC and $75 million will belong to Ripple. Both parties pointed out that the SEC's view on cryptocurrencies has changed. Since the former chairman stepped down, the agency has withdrawn a number of investigations and charges, and has also set up a working group to develop a regulatory framework. There are "special circumstances" and modifying the final judgment will help reconcile, avoid appeals and save resources. The motion is the latest development in the nearly five-year legal dispute between the two parties. (The Block)