The legal standoff between Ripple and the U.S. Securities and Exchange Commission (SEC) has entered a new phase, shifting focus to Ripple's actions rather than XRP as an asset.
Judge Rejects Joint Motion by Ripple and SEC
On Thursday, U.S. District Judge Analisa Torres rejected a joint request from Ripple and the SEC that sought to reduce Ripple’s $125 million penalty to $50 million and lift the permanent ban on future institutional sales of XRP. The judge clarified that the proposed settlement does not override her final judgment, leaving both parties to decide their next steps.
XRP Is No Longer Part of the Dispute
In response to the ruling, community analyst Vet emphasized that the lawsuit no longer involves XRP, focusing solely on Ripple's past actions. This opinion is supported by legal experts and Ripple's Chief Legal Officer, Stuart Alderoty, who confirmed the unchanged status of XRP as a non-security.
What's Next for Ripple and SEC?
With the judge affirming her original judgment, both Ripple and the SEC must now determine their course of action: file a modified joint motion or withdraw their appeals altogether. The outcome of this legal battle will no longer affect XRP, as its legal status has been established.
The dispute now centers on Ripple's corporate actions, leaving XRP removed from the discussions. This signifies a settled legal position for the token, with the future of legal actions contingent on Ripple's corporate policies.
