On Thursday, Judge Analisa Torres rejected a joint request from Ripple and the SEC regarding a reduced fine and the removal of a permanent injunction, drawing significant attention within the cryptocurrency community.
Court Decision on Ripple and SEC Case
Judge Torres criticized both sides for trying to bypass a final court ruling through a private settlement. As a result, the court provided the parties with two options: either withdraw their appeals or proceed with an appeal of her injunction.
Comments and Reactions from Key Figures
Ripple's Chief Legal Officer, Stuart Alderoty, commented on the situation by stating, 'The ball is back in our court.' He emphasized that regardless of what they decide, XRP's legal status remains unchanged, and it is not classified as a security.
Future of Ripple and SEC Following Court Decision
Attorney Fred Rispoli suggested that Ripple and the SEC are likely to abandon their appeals and may settle around $50 million, keeping Judge Torres’s ruling in place. He noted that such assurances could help Ripple avoid further restrictions, as long as it stays compliant.
The court's decision has clarified the situation regarding XRP, leaving open questions about how Ripple and the SEC might respond in the future and their potential to avoid further litigation.
