Federal Judge Rejects Ripple-SEC $50M Settlement Deal
Federal Judge Rejects Ripple-SEC $50M Settlement Deal

Federal Judge Rejects Ripple-SEC $50M Settlement Deal

News summary

Judge Analisa Torres has denied a joint motion by Ripple and the SEC to reduce Ripple's penalty from $125 million to $50 million and to remove the permanent injunction restricting Ripple's institutional sales of XRP. The judge ruled that the parties lacked authority to overturn a final judgment imposing the penalty and injunction, emphasizing the importance of protecting public interest and the integrity of securities law enforcement. This decision keeps Ripple's XRP sales to institutional investors legally restricted, while retail trading remains unaffected. Both Ripple and the SEC have appealed the original ruling, with options now including withdrawing or continuing their appeals. Ripple executives, including Chief Legal Officer Stuart Alderoty, have expressed confidence in the company's legal position, reaffirming that XRP is not a security. Legal experts suggest the possibility of informal SEC assurances and a potential settlement if Ripple remains compliant, although the injunction remains in effect and enforceable.

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