Judge Turns Down Ripple-SEC Deal, XRP’s Legal Battle Continues
Judge Torres turns down the Ripple-SEC settlement, maintaining the $50 million fine and injunction. Judge Analisa Torres rejected a proposal by Ripple and the U.S Securities and Exchange Commission (SEC) … The post Judge Declines Ripple-SEC Offer, XRP’s Legal Fight Continues appeared initially on Cryptotale.
Judge Torres declines the Ripple-SEC settlement, preserving the $50 million fine and injunction. Ripple’s legal group reacts, specifying that XRP’s status as non-security remains unchanged. Deaton highlights the SEC’s surprise at Judge Torres’ decision and its weak legal argument. Judge Analisa Torres turned down a proposal by Ripple and the U.S Securities and Exchange Commission (SEC) to decrease the fine to $50 million and scrap the long-term injunction. Rispoli observed that the injunction granted by the court will stay up until the SEC chooses to implement it, something which he thinks is unlikely.
XRP Drops as Legal Unpredictability Weighs on Price. The judgment has impacted the cost of XRP. The legal ambiguity on XRP has actually added to the pressure on selling XRP, especially by organizations that are extremely sensitive to changes in the regulatory environment. Related: XRP Drops Below $2, Even with 452K Active Addresses: Report. The ramification of the continued legal tussle between Ripple and the SEC still impacts the efficiency of XRP in the market.
Judge Torres turns down the Ripple-SEC settlement, keeping the $50 million fine and injunction. Ripple’s legal team responds, mentioning that XRP’s status as non-security remains unchanged. Deaton highlights the SEC’s surprise at Judge Torres’ decision and its weak legal argument. Judge Analisa Torres declined a proposition by Ripple and the U.S Securities and Exchange Commission (SEC) to minimize the fine to $50 million and scrap the permanent injunction. Judge Torres assured that neither of the parties had accomplished adequate requirements to change the preliminary verdict. Judge Torres turned down the SEC’s petition to impose a 60% cut on the fine. His argument was that after all those years of legal efforts, the argument by the SEC was not strong. Eleanor Terrett of CNBC gave further details. Rispoli observed that the injunction given by the court will stay till the SEC chooses to implement it, something which he thinks is unlikely. XRP Drops as Legal Uncertainty Weighs on Price. The judgment has actually impacted the cost of XRP. The legal obscurity on XRP has added to the pressure on selling XRP, especially by institutions that are highly sensitive to modifications in the regulatory environment. Related: XRP Drops Below $2, Even with 452K Active Addresses: Report. The implication of the ongoing legal tussle in between Ripple and the SEC still affects the efficiency of XRP in the market.
