The judge denies a joint presentation of Ripple and SEC to end their long legal battle on XRP
The American judge has passed a joint proposal from the US Securities and Stock Exchange Committee (SEC) and the payments company that would have taken steps towards ending its long legal battle.
Ripple and SEC made a joint suggestion earlier this month for an “index judgment” to see if the Analisa Torres judge would be open to cancel the civil penalty that was appointed 125 million dollars and reduced to $ 50 million.
SEC has been going on many enforcement procedures since Donald Trump became president and left Gary Ginsler as president.
However, Torres says that both parties “fail to address the heavy burden that they should overcome to evacuate the irreversible order and reduce the civil punishment significantly.”
He writes Judge,
“Relief is granted from the ruling under Article 60” only when presenting exceptional circumstances “… The parties did not make any effort to meet this burden here; their request is not mentioned even the rule.
Accordingly, if the judicial jurisdiction is restored to this court, the court will refuse to request the parties as procedurally inappropriate. “
SEC filed a lawsuit against the San Francisco payment company in late 2020 by selling XRP as an unregistered guarantee.
In 2023, Torres spent that XRP automated Ripple sales did not constitute security offers, contrary to what the Supreme Education Council claimed.
However, the judge, along with SEC, claimed that XRP sales directly for institutional buyers were securities.
Last August, Torres slapped Tamul with a civilian penalty worth $ 125 million. Both the company and SEC resumed this number.
Follow us xand Facebook and cable
Don’t miss a rhythm – Subscribe to deliver email alerts directly to your inbox
Check the price procedure
Browse the daily Hodl Mix
& nbsp
Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
Created Image: Midjourney
