Ripple & the U.S. Securities and Exchange Commission (SEC) will have to wait longer in order to solve the 6-year long case over XRP sales as allegedly unregistered securities. In spite of both battling parties reaching an agreement to settle for $150 million XRP in escrow, the Southern New York District Judgeโs latest denial screams โnot so fastโ.
Ripple vs. SEC Case Drags, Judge Slams Brakes On Motion
Indeed, The Manhattan Judge Analisa Torres was strict in her latest court order, denying the request to dissolve โthe Courtโs permanent injunction ordering Ripple to obey the lawโ & even cut the initially imposed $125 million fine for Ripple by more than a half.
This comes just two weeks after Ripple & SEC joined forces to file a motion for an indicative ruling after Judge Analisa Torres deemed the legal procedures in this high-profile case โimproperโ.
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Ultimately, the NY Judge cited a Supreme Court ruling, hinting that the case judgement requires extraordinary circumstances for the case to be closed in the way both Ripple & SEC desire. On top of that, the legal document argues that previously SEC has made a strong case against Ripple Labs, calling the largest financial regulatorโs arguments for peace โout of placeโ.
Meanwhile, Ripple, the issuer of XRP token, has penned a supplemental legal letter declaring willingness to be regulated by securities laws regardless. However, this might not help get the case injunction, as Judge Analisa Torres said both parties should drop their appeals if they really want the high-profile case settled once and for all.
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People Also Ask:
Judge Analisa Torres denied a joint Ripple-SEC motion to reduce a $125M fine and lift an injunction on XRP institutional sales, keeping the legal saga dragging. This ainโt the moonshot XRP holders were hoping for, fam.
Torres said the settlement didnโt justify dodging her ruling that Ripple violated securities laws, prioritizing legal finality over crypto bro compromises. HODLers are feeling the FUD now.
XRP took a dip with bearish momentum after the ruling, but itโs holding support around $2.
Nah, XRP itself isnโt a security, but institutional sales were ruled unregistered securities, keeping Ripple in the regulatory crosshairs. Stay woke, crypto fam.
Both sides are stuck in appeals, with the key next update due August 2025โmore legal Ls could keep XRPโs gains rekt unless a settlement pops off.
