SEC ends lawsuit against Ripple, company to pay $125 million fine

FILE PHOTO: A representations of cryptocurrency Ripple is seen in front of a stock graph and U.S. dollar in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

NEW YORK (Reuters) -The U.S. Securities and Exchange Commission said it ended its case accusing Ripple Labs of selling unregistered securities, leaving a $125 million fine intact and ending one of the cryptocurrency industry's highest-profile lawsuits.

Ripple and the SEC agreed on Thursday to dismiss their appeals of the fine imposed by U.S. District Judge Analisa Torres in Manhattan and her injunction against the sale of Ripple's XRP token to institutional investors.