Software engineer Vincent Van Code commented on the potential closure of Ripple's legal battle with the SEC, suggesting the company may abandon its appeal after two failed attempts to dissolve a court injunction.
Judge Torres Denies Motion to Dissolve Injunction
U.S. District Judge Analisa Torres, in May, rejected a joint request by Ripple and the SEC to revise the remedies portion of the case. The parties proposed reducing Ripple’s penalty from $125 million to $50 million and lifting the permanent injunction on future institutional XRP sales. This request was denied again on June 26, reinforcing the court's original decision.
Van Code: 'Just Pay It and Move On'
In his commentary shared on X, Vincent Van Code urged Ripple to stop prolonging the battle. 'Just pay it, get SEC to sign a bunch of XRP sale exemptions and move on,' he stated, emphasizing the urgency for resolution to avoid giving competitors an opportunity to overtake Ripple.
Ripple’s Legal Position and Future Strategy
Despite setbacks, Ripple’s legal team remains optimistic. Chief Legal Officer Stuart Alderoty reassured that the case 'doesn’t change anything' in terms of business operations. The focus is now on expansion with projects like the RLUSD stablecoin launch, indicating a strategic pivot towards growth.
As noted by Van Code, Ripple stands at a critical juncture. Dismissing the appeal may seem as a retreat but could pave the way for full regulatory clarity, allowing Ripple to return to the market.
