Ripple and SEC Settlement Request Rejected by Federal Judge
A federal judge has denied a request from Ripple Labs and the U.S. Securities and Exchange Commission (SEC) for a $50 million settlement. U.S. District Judge Analisa Torres stated the motion is outside her jurisdiction due to the case being on appeal and deemed it “procedurally improper.”
- The lawsuit, initiated in December 2020, alleges Ripple raised $1.3 billion through unregistered sales of XRP.
- Judge Torres noted that the request did not meet the standards necessary for modifying a final judgment.
- Ripple's Chief Legal Officer stated the ruling does not alter Ripple’s previous wins and emphasized ongoing agreement with the SEC to resolve the matter.