Ripple and the SEC have jointly proposed a revised settlement in their long-running legal dispute, requesting the court to approve a $50 million penalty payment to the regulator while allowing Ripple to retain $75 million. In a Thursday filing to the Southern District of New York, both parties argued this arrangement would promote efficiency, avoid further litigation, and align with the SEC's recent approach in other crypto cases. The proposal follows Judge Analisa Torres' July 2023 ruling that determined some of Ripple's XRP sales didn't violate securities laws, though institutional sales did. The SEC initially sought $125 million in penalties for the institutional sales. The filing cites "exceptional circumstances" including recent SEC policy shifts under new leadership, referencing the agency's dropped investigations and formation of a crypto task force since Gary Gensler's departure. Judge Torres had previously rejected an earlier settlement proposal last month, noting parties hadn't met the "heavy burden" to vacate the injunction. The case, which began in 2020 with SEC allegations of $1.3 billion in unregistered securities sales, has seen Ripple CEO Brad Garlinghouse declare the legal battle effectively over after the SEC dropped its appeal in March.