Ripple is not concerned about a U.S. court rejecting the proposed settlement with the SEC regarding XRP. Judge Analisa Torres of the Southern District Court of New York dismissed the joint request from Ripple and the SEC for approval of the settlement on procedural grounds. Stuart Alderoty, Ripple's legal director, confirmed that this move does not affect the company's victory. XRP is still not considered a security, and the lawsuit ended on March 19.
Alderoty emphasized that this denial only relates to procedural adjustments in Ripple's cross-appeal dismissal. The request was inappropriate due to the misuse of the necessary procedural process. No solid legal reason has been provided to change the original ruling and minimize civil penalties.
The SEC and Ripple had previously agreed to reduce the fine of $125 million, with the SEC retaining $50 million. However, many members of the community are still dissatisfied with the lack of detailed information from Ripple on this issue.
This news comes at the same time as reports that President Donald Trump was influenced by a lobbyist linked to Ripple, to announce plans to use XRP for a national cryptocurrency reserve. This has led to backlash from the Bitcoin community, with many criticizing Ripple for supporting a multi-currency strategic reserve instead of just a Bitcoin reserve.
Source: https://tintucbitcoin.com/van-thang-kien-ripple-khang-dinh-quyet-dinh-xrp-khong-anh-huong/
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