Ripple has sent a supplemental letter to Judge Torres highlighting the need for an indicative ruling in the SEC case. The letter outlines three main arguments.
Reason for Court Motion
According to legal expert James K. Filan, Ripple filed a letter to Judge Torres in support of a joint motion for an indicative ruling. The letter outlines additional reasons that support the parties’ view about the need to lift the injunction from the final judgment.
Proposed Resolution
The parties do not seek to vacate, amend, or modify the summary judgment order. The order will remain binding on the parties and useful to other courts. The parties request only to modify the relief granted in this Ripple vs SEC case by dissolving the injunction and adjusting the penalty.
Context of Ripple and SEC Case
Ripple argues that this proposed resolution will preserve the resources of the 2nd Circuit by avoiding the need to decide appeals, and it would bring the long-running XRP lawsuit to an end. Additionally, it would put the company on fair and comparable ground with other industry participants whose cases were also dismissed.
Ripple's letter to Judge Torres highlights key aspects necessary for concluding the SEC case, which is critical for the future of digital assets.
