The U.S. Securities and Exchange Commission (SEC) along with Ripple Labs has filed a motion in the Manhattan District Court to lift the existing court order that blocks access to $125 million held in an escrow account. This joint request is part of the resolution of their long-standing legal dispute.
This is reported by Finway
Agreement on Fine Distribution
In the submitted document, the parties reported an agreement on the distribution of the monetary fine: the SEC plans to receive $50 million, while the remainder is to be returned to Ripple Labs. Thus, it is proposed to partially release the funds from the escrow account according to the new terms of the agreement.
“The SEC and Ripple Labs jointly filed a motion to lift the court order. This concerns the $125 million held in the escrow account. The parties agreed on the distribution: the SEC will receive $50 million, and the remainder will be returned to Ripple Labs.”
Exceptional Circumstances and Changes in the Case
The motion emphasizes the “exceptional circumstances” that justify altering the previously made decision. The parties pointed to the achievement of a settlement agreement, updates to the SEC’s regulatory policy regarding cryptocurrencies, and a mutual desire to avoid further litigation.
It is worth noting that in May 2025, Judge Torres already denied a similar request. Earlier, in March of this year, she indicated that the SEC’s case against Ripple Labs could be closed soon.