14.06.2025 00:21
A significant development has unfolded in the ongoing legal battle between Ripple Labs and the Securities and Exchange Commission (SEC). Both parties have jointly petitioned a federal judge to alter a previous order. This order, which prohibited Ripple from selling specific cryptocurrencies and levied a substantial $125 million fine, now stands for reconsideration. The rationale behind this request, as stated in their filing, centers on the necessity of facilitating a potential settlement agreement.
The petition, submitted to District Court Judge Analisa Torres in the Southern District of New York, cites "extraordinary circumstances" as justification for the requested modification. This follows earlier challenges by both Ripple and the SEC to aspects of the October court ruling. A shift in the SEC's approach towards cryptocurrencies, notably during the latter part of the Trump administration, has seemingly opened the door for a compromise. This more conciliatory stance from the SEC includes a willingness to withdraw some of its initial claims.
Crucially, this proposed amendment directly supports the ongoing settlement negotiations. The settlement, reportedly reached in early May, involves a $50 million payment to the SEC, with the remaining funds being returned to Ripple. The joint filing further indicates that, should Judge Torres grant their request, both Ripple and the SEC intend to appeal to the U.S. Court of Appeals for the Second Circuit, seeking a limited form of restitution. The judge's decision will ultimately determine the future trajectory of this landmark case.
This development hinges entirely on Judge Torres' ruling, leaving the outcome uncertain. The entire crypto community, and indeed the broader financial world, awaits her decision with bated breath. While this presents a potential path towards resolution, it's important to remember that the legal landscape remains complex and volatile. Further updates will be provided as they become available from internet sources. *This is not investment advice.*
