For the second time, U.S. Judge Analisa Torres for the Southern District of New York rejected the SEC's request to settle with Ripple. The request would reduce the fine to $50 million and revoke the permanent injunction, but the judge found that Ripple could still violate the law again and the injunction must be maintained.
The key point, according to District Judge Analisa Torres for the Southern District of New York, was the proposed removal of the permanent injunction, not the $50 million civil penalty (down from the $125 million initially imposed by the court last year). The permanent injunction prohibits further violations of federal securities laws, as recommended by the S.E.C. at the time, she wrote in her ruling on Thursday, "because Ripple made a significant amount of money in the process of breaking the law, and Ripple has an incentive to continue breaking the law, it is necessary to enact this injunction."
New York judge rejects SEC's request for settlement with Ripple
2025-06-26 22:21:32
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