KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
NEW YORK - Ripple Labs agreed to settle a U.S. Securities and Exchange Commission civil lawsuit over the alleged sale of unregistered securities and pay just $50 million of a previously imposed $125 million fine, the cryptocurrency company's chief legal officer said on Tuesday.
Ripple Chief Legal Officer Stuart Alderoty said in a post on X that the SEC would keep $50 million of the $125 million fine imposed in August by U.S. District Judge Analisa Torres in Manhattan and now in escrow earning interest. Ripple appealed another part of Torres' decision, which said that $728 million of XRP sales to institutional investors should have complied with securities laws. Alderoty said Ripple will end that appeal.
Since U.S. President Donald Trump's return to the White House, the SEC ended civil lawsuits against crypto exchanges Coinbase and Kraken.
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