Ripple loses the land in front of SEC in the new federal rule – here 411 star-news.press/wp

Ripple at a crossroads after Judge Angia Torres rule in the long run A lawsuit against the Supreme Education Council. The encryption company will now have to decide whether to drop the appeal or move forward with it to obtain relief from Judge Torres.

Facing a relapse ripple in the case against SEC

A The court document He explains that Judge Torres has denied Ripple and SEC’s joint movement for an indicator ruling. The verdict was supposed to exempt the encryption company, as both parties asked the judge to resolve and reduce the Zarbis order Critical judgment To 50 million dollars from 125 million dollars.

Judge Torres announced this Tamps and SEC It failed to show exceptional circumstances that exceed the public interest or justice management. As such, she was not convinced of amending her ruling. She also explained that if the judicial jurisdiction is restored to its trial, it will continue to deny the parties’ request to evacuate the penalty order and reduce the civil punishment.

The court also shed light on the fact that nothing, Regarding Ribel’s violationsIt has changed since the verdict against the encryption company, but both sides are barely demonstrated. Judge Torres noted the arguments of the Supreme Education Council and how the committee explained at that time that Ripple would continue to violate securities laws without a judicial order.

In this way, the argument that the irony and the civil punishment refused not only to the unique facts of the issue, not the public interest. She hinted at the fact that the committee argued that a civil penalty was also necessary to send a strong deterrent message to Ripple and others. Also, the judge was not convinced of the argument that The Supreme Education Council has fallen Other enforcement procedures, noting that the facts in these cases differ from a state of ripple.

What is the next in the XRP suit

Judge Torres noticed that Ripple and SEC are free to withdraw their calls if they really wanted the case to end. On the other hand, I stated that The encryption company may continue With her appeal if she really wants to relief from her final ruling. The judge explained that Ripple and SEC have no power to agree to not adhere to the final ruling.

As such, they can not simply set its rule aside because they have a settlement agreement. Instead, a higher court can only place its judgment on the appeal. Legal expert Farid Risboli predicts This ripple and the SEC will resume and agree on a $ 50 million settlement, with the irritable matter remaining.

Ripple legal official (CLO) Stewart Aldouti indicated The ball is now in their stadium, and they will decide what to do after that. Judge Torres agreed that they can either drop the appeal or challenge the result on historical institutional sales with the appeal. Either way, note that XRP legal status Security does not remain unchanged.

Distinctive image from Getty Images, Chart from TradingView.com

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