Judge Torres Issues Crucial Denial On Penalty Reduction
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The crypto world just received another significant update in the long-running SEC Ripple case, a legal battle that has kept investors and enthusiasts on the edge of their seats for years. In a move that sends a clear message about the court’s current stance, Judge Analisa Torres of the U.S. District Court for the Southern District of New York has officially denied a joint request from the U.S. Securities and Exchange Commission (SEC) and Ripple Labs. This denial, confirmed by reports, specifically targeted a motion seeking an ‘indicative ruling’ to dissolve a permanent injunction and significantly reduce Ripple’s proposed monetary penalty by more than half. The motion was officially terminated on June 26, marking a pivotal moment in this high-stakes legal drama. But what does this mean for Ripple, XRP, and the broader cryptocurrency landscape? Understanding the SEC Ripple Case: A Legal Saga Unpacked To truly grasp the gravity of Judge Torres’s recent decision, it’s essential to revisit the origins of the SEC Ripple case. This legal saga began in December 2020 when the SEC filed a lawsuit against Ripple Labs, its CEO Brad Garlinghouse, and co-founder Chris Larsen. The core of the SEC’s accusation was that Ripple had engaged in an unregistered, ongoing offering of securities through the sale of its digital asset, XRP, to retail investors. The regulatory body alleged that XRP functioned as an investment contract, thereby falling under the purview of U.S. securities laws, which Ripple vehemently denied. Ripple, on the other hand, argued that XRP is not a security but rather a digital currency used for facilitating fast and low-cost international payments. They contended that the SEC’s regulatory approach was a classic case of ‘regulation by enforcement,’ lacking clear guidelines for the burgeoning crypto industry. This fundamental disagreement has fueled a protracted legal battle, with…
Filed under: News - @ June 27, 2025 3:24 am