The U.S. Securities and Exchange Commission (SEC) has filed a motion to settle its longstanding lawsuit against Ripple Labs and its executives for a civil penalty of $50 million. The settlement also includes lifting the ban on sales of Ripple's XRP cryptocurrency. This move has faced internal opposition within the SEC, with Commissioner Crenshaw publicly criticizing the agency's decision, describing it as a "tremendous disservice" and warning that it could weaken regulatory oversight of the cryptocurrency sector. Crenshaw further stated that the settlement reveals internal conflicts within the SEC. The settlement awaits judicial approval, marking a potential resolution to the protracted legal battle between the SEC and Ripple.
SEC Commissioner: Ripple Settlement Shows Regulator at War With Itself https://t.co/xchxBJzJCD
SEC commissioner criticizes Ripple settlement, warns of weakened crypto oversight https://t.co/ucE3IDhi7Z
'A tremendous disservice': SEC Commissioner Crenshaw blasts agency's settlement with Ripple in public dissent https://t.co/OaH36PbVBv