An American judge does not think that Ripple should recover the civil sanction of his XRP trial simply because the new leadership regime of the American Commission for Securities and Exchange (SEC) is now associated with the payment company.
Ripple and the SEC submitted a joint request in May for an “indicative decision” to see if the district judge Analisa Torres would be open to the liberation of the civilian penalty of $ 125 million in the company and to reducing it to $ 50 million.
Indicative decisions can be filed when a previous judgment is underway with a court of appeal, but the parties want to see if a district judge would be open to a request for compensation. District judges can refuse requests or express their opening to them if the court of appeal grants them permission.
Judge Torres killed Ripple and the joint request of the SEC in May, judging that the two parties failed “to face the heavy burden that they must overcome to cancel the injunction and considerably reduce the civil sanction”.
Ripple and the SEC repressed a second request earlier this month, describing what they thought to be the “exceptional circumstances” which deserved a reduction in civil sentence.
“The balance of interest here promotes the entry of the relief sought by the parties. The requested alleviation reflects a reasonable compromise by all parties to end this dispute, to Avoid the risk of dispute on appeal and avoid additional expenses of the resources of the parties and judicials. »»
Torres, however, shot down his second request in a similar way to the first, noting that the Supreme Court said that judicial judgments are not only the property of the litigants; Instead, they belong to the entire legal community and should not be canceled unless the public interest requires it.
For the first time, the SEC continued the payment company based in San Francisco at the end of 2020 for having allegedly sold XRP as unregistered warranty.
In 2023, Torres ruled that the automated sales of Ripple and the open XRP market did not constitute security offers, contrary to what the SEC alleged. The judge, however, has the side of the assertion of the SEC according to which the sales of XRP by Ripple to institutional buyers were values of securities.
Last August, the judge slapped Ripple with a civil penalty of $ 125 million, which the firm called. The dry also called on this number, arguing at the time that it was too weak. The regulation agency changed its agreement to the trial after President Donald Trump took office in January and installed pro-Crypto officials at the head of the committee.
XRP is traded at $ 2.12 at the time of the editorial staff. The cryptographic asset classified fourth by market capitalization is down more than 3% in the last 24 hours.
Follow us on X, Facebook and Telegram
Do not miss a beat-Subscribe to obtain alerts by e-mail delivered directly in your reception box
Check price action
Surf the daily Hodl mixture
& nbsp
Warning: Opinions expressed at Daily Hodl are not investment advice. Investors should make their reasonable diligence before making high-risk investments in bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and that all the losses you may undergo are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and the Daily Hodl is an investment advisor. Please note that the Daily Hodl is participating in affiliation marketing.
Image generated: Midjourney
