U.S. District Judge Analisa Torres denied the SEC's motion for a settlement filed jointly with Ripple. The motion seeks the court to lift the injunction in the August 2024 judgment and approve the release of $50 million of the $125 million civil penalty escrow to be paid to the SEC and the remaining funds to be returned to Ripple. The judge found that the application did not follow the procedural requirements set out in Rule 60 of the Federal Rules of Civil Procedure. Ripple's chief legal officer said it will resubmit the settlement application in compliance with the rules.
Legal experts analyzed that both parties need to explain the reasons for the settlement in detail according to the Rule 60 standard, including the basis for the SEC's decision to drop other charges, etc. It is expected that the complete process will take 3-5 weeks. The judge stressed that this rejection is only for procedural defects and does not involve a substantive review of the settlement content.
The US court rejected the SEC's motion to settle with Ripple on the grounds of procedural errors
2025-05-16 00:24:53
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
美国法院以程序失误为由驳回SEC与Ripple的和解动议Next article：
美参议院多数党领袖已提交《GENIUS法案》的终结辩论动议，将于5月19日表决
