Ripple is at the crossroads after the judgment of the judge’s Torres analisa Lawsuit against SEC. The cryptographic company will now have to decide whether to abandon the appeal or move forward to get relief from the judgment of Judge Torres.
Ripple is in the face of failure in the lawsuit against SEC
AND Forensic document It shows that Judge Torres has denied Ripple and the joint conclusion of SEC for an indicative ruling. The ruling was to release a cryptographic company because both parties asked the judge to resolve the order and reduce cash sentence up to $ 50 million from $ 125 million.
Judge Torres declared this Ripple and SEC They did not show exceptional circumstances that exceed the public interest or administration of the judiciary. As such, she is not convinced to modify her judgment. She also explained that if the jurisdiction was restored to her court, she would still refuse to ask the parties to release the order and reduce civil penalty.
The court also emphasized the fact that nothing, In relation to ripple violationsIt has changed since the ruling against the cryptographic company, but both sides almost fail. Judge Torres noticed SEC arguments and the way the Commission explained then that Ripple still violates the provisions regarding securities without an order.
Therefore, she rejected the argument that the order and civil penalty concern only the unique facts of the case, not the public interest. She referred to the fact that the Commission argued that civil punishment was also necessary to send a sturdy deterrent message for Ripple and others. The judge was also not convinced by the argument SEC has fallen Other enforcement activities, noting that the facts in these cases differed from ripple cases.
What next in the lawsuit XRP
Judge Torres noticed that Ripple and SEC can freely withdraw their appeals if they really want the trial to end. On the other hand, she stated that The cryptographic company can continue With an appeal, if he really wants relief from her final judgment. The judge explained that Ripple and SEC did not have the right to agree not to be related to the final judgment.
Therefore, they cannot simply postpone her sentence because they have a settlement agreement. Instead, only a higher court can set aside its judgment on an appeal. Legal expert Fred Rispoli predicts This ripple and SEC will cancel appeal and agree a settlement of $ 50 million, and the order remained in place.
Ripple chief legal officer (clo) Stuart Alderoty noticed That the ball is now in their court and decide what to do next. He agreed with the judge Torres that they could abandon an appeal or question the determination of historical institutional sales along with the appeal. Anyway, he noticed XRP legal status Because safety is not unchanged.
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