Ripple rethinks his request for appeal against the judgment in the case of sec./.ripple
- Ripple could negotiate with the SEC about a lower fine instead of maintaining his application for an appeal.
- Ripple’s fine of $ 125 million, which is deposited in a trust account, is currently the last point of dispute.
Ripple Labs is considering whether it should take a follow-up profession after the US stock exchange supervisory authority (SEC) recently withdrawn its appointment against the company. The decision of the SEC is a significant victory for Ripple, but the unresolved questions related to a fine of $ 125 million and a permanent subsequent ordinance have led the company to a crossroads.
Brad Garlinghouse, CEO von Ripple, indicated that the company will think about whether it should continue with the counterclaim or negotiate with the SEC to clarify the remaining questions.
SEC withdraws an appeal while Ripple is considering
After the decision of the SEC to withdraw her appointment, Ripple CEO Brad Garlinghouse praised this development as a positive step. Garlinghouse described the permanent injunctive relief together with the fine of $ 125 million as the main arguments examined by the US district judge Analisa Torres.
Before the judgment, judge Torres imposed a considerable fine and a permanent edition against future institutional XRP transactions from Ripple for violations of federal securities. Garlinghouse said that the SEC should not have submitted its case even according to the present court decisions. The change in the SEC leadership reflects its observation because the industry now receives greater support from new SEC representatives.
Garlinghouse unveiled In his interview with Bloomberg that he originally approved a $ 125 million payment before both the Appointment procedure of the SEC and the crypto officers were assigned their roles. Garlinghouse has prompted the current regulatory shift to say that Ripple has won his legal dispute because XRP is not considered a security in retail. In his opinion, the existing fine and the injunction requires additional measures to achieve a solution.
Ripple options and conceivable results
Ripple has already partially met Richter Torres’s judgment by depositing the fine of $ 125 million in a trust account. Garlinghouse explained that Ripple would welcome the entire amount of fine, while the company is considering conducting comparison talks with the SEC in order to clarify all outstanding legal questions. CEO Garlinghouse emphasized that Ripple faces two options: either make the appeal against the judgment or to conclude a comparison with reduced punishments and at the same time agree to the cancellation of the injunction.
As the right -wing expert Fred Rispoli found, the sudden step of the SEC, withdrawing her calling, surprised observers because Ripple did not ask for Ripple to drop her counter -profession. The parties may negotiate a comparison that will lead to a reduction in possible fine. Rispoli did not respond to the status of permanent injunctive relief, but discussed the persistent importance of the injunctive relief in this case.
Ripple fought the SEC for compliance with laws for four years after the authority sued the company in December 2020 for XRP sales without a necessary registration. Judge Torres wrote history in 2023 when he decided that XRP is not a security if it is bought by private customers, but becomes a non -registered security for banking.
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