U.S. District Court Again Rejects Ripple and SEC Settlement Proposal

On the 26th, Judge Analisa Torres of the New York Federal District Court once again rejected a request to lift an injunction filed jointly by Ripple and the U.S. Securities and Exchange Commission (SEC). The parties sought a 60% reduction in a $125 million civil penalty and the reversal of a permanent injunction issued last year, but the judge denied the application citing 'public interest'.

In her ruling, Judge Torres noted, 'The reapplication has not changed anything, and the parties are not pretending otherwise. Despite this, they argue that reducing the civil penalty by 60% and reversing a permanent injunction issued less than a year ago serves the public interest,' she stated. The SEC has accused Ripple of legal...