Judge Upholds XRP Sales Injunction Against Ripple
A federal judge has dismissed Ripple Labs and the U.S.Securities and Exchange Commission’s joint request to cancel a $125 million penalty and the ban on institutional XRP sales. Despite a settlement between the two parties, judge Analisa Torres refused to lift the restrictions.
According to Reuters, the judge denied the motion to remove the permanent ban on Ripple’s institutional XRP sales. This decision comes after both Ripple and the SEC agreed on a settlement. The judge ruled that the settlement cannot override the court’s previous decision.
Judge Analisa Torres rejected the motion, maintaining the ban on Ripple’s institutional XRP sales. The court imposed this ban in 2024. The judge stated that the settlement cannot change the court’s earlier ruling. The ban and penalty were put in place due to violations of securities laws.
This is the second time the court has denied a similar request. The ban and penalty were set in place in 2024. The judge believes the settlement cannot override the court’s final judgment. The ban was due to Ripple’s violation of securities laws.
The case has been ongoing for years. In 2023, she ruled that XRP sales on exchanges were not securities. However, institutional sales were found to be illegal. The judge’s decision keeps the ban and penalty intact. Ripple and the SEC tried to settle the case. Thay wanted to return $75 million of the $125 million fine. The SEC would keep $50 million. The judge said the settlement does not meet the “exceptional circumstances” needed to change the ruling. The judge’s stance shows the court’s commitment to enforcing its original order.
Both parties had asked to pause their appeal while the motion was pending. the judge’s ruling means Ripple cannot sell XRP to institutions. The company must still pay the full penalty. The judge’s decision affects Ripple’s buisness. The company now faces a tough choice. They can either drop the appeal or continue fighting the ruling.
Ripple’s legal officer, stuart Alderoty, said the company will decide its next steps. He noted that XRP’s status as a non-security remains unchanged. The judge’s decision impacts Ripple’s operations. The company must comply with the original order. The judge’s stance highlights the legal challenges Ripple faces.
Key points include:
- The judge refused to lift the ban on XRP sales to institutions.
- the judge said the settlement does not meet the criteria for altering a final judgment.
- The judge emphasized that parties cannot bypass a final court order through a private agreement.
The judge’s ruling impacts Ripple’s strategy.The company must now choose between dropping the appeal or continuing it. The case has been a meaningful hurdle for ripple. The company must now decide whether to appeal or accept the ruling.
The case has been a long legal battle. ripple cannot use the settlement to avoid the court’s original order. The judge’s decision affects Ripple’s operations. The company must follow the court’s original order.
The judge’s decision affects Ripple’s business. The company must now decide its next steps. The case has been a major obstacle for Ripple. The company must now decide whether to appeal or accept the ruling. The case has been a significant challenge for Ripple. The company must now decide its next steps.
The judge’s ruling impacts the crypto industry. It shows the court’s stance on crypto regulations. The case highlights the legal complexities in the crypto space. The ruling shows the importance of following securities laws.
The case has set a precedent. It shows the court’s stance on crypto regulations. The ruling affects Ripple’s operations.The company must comply with the court’s original order.
The case has set a precedent.It shows the importance of adhering to securities laws. the ruling affects Ripple’s future.
