U.S. Southern District Court of New York Dismisses Ripple and SEC Settlement Motion Due to Procedural Impropriety

【U.S. Southern District Court of New York Dismisses Ripple and SEC Settlement Motion Due to Procedural Impropriety】According to reports from Golden Finance, court documents from the Southern District of New York show that Judge Analisa Torres dismissed the motion for a declaratory judgment submitted by the U.S. Securities and Exchange Commission (SEC) and Ripple Labs. The motion requested that the court lift the injunction against Ripple's illegal sale of securities and reduce the civil penalty from $125 million to $50 million. Court documents indicate that both parties reached an agreement on May 8, 2025, attempting to resolve the litigation in the district court and the Second Circuit Court of Appeals. The conditions of the agreement included lifting the injunction against Ripple and reducing the civil penalty by 60%. However, the court found that the parties failed to meet the "special circumstances" standard required to modify the final judgment, thus dismissing the request.