New and Important Development in the Case Between Ripple and the SEC! Eyes on the Judge

Ripple Labs and the SEC (SEC) requested a federal judge to approve the modification of a ruling that prohibits certain coin sales by Ripple and imposes a $125 million fine. It was stated that this step is necessary for the parties to progress towards a settlement.

Ripple and the SEC stated in their petition submitted to Judge Analisa Torres of the Southern District of New York that “extraordinary circumstances justify this change.”

The parties had appealed various aspects of the court’s decision in October. However, with the Trump administration’s second term adopting a more moderate stance towards crypto coins, hopes for resolving the dispute between the parties were revived. It was reported that the SEC was prepared to abandon some of its demands and supported changing the decision to facilitate the settlement process.

Whether the decision will be changed will be clarified with the decision of Judge Torres.

The two parties had proposed the payment of 50 million dollars to the SEC and the return of the remaining funds to Ripple, reflecting the settlement reached at the beginning of May. According to the file, “If the court issues the requested indicative ruling, the SEC and Ripple will apply to the U.S. Court of Appeals for the Second Circuit to make a limited request for a refund.”

*Not investment advice.

Follow our Telegram group, Twitter account, and Youtube channel for exclusive news, analyses, and on-chain data! Also, download our Android and IOS applications to start live price tracking right away!