Just when it seemed like the long-running lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) was finally wrapping up, a major setback hit. Both sides had submitted a joint request for the court to approve a settlement. But… the court rejected it because they used the wrong legal rule!
Judge Torres said Ripple and the SEC didn’t follow proper procedure, and this mistake could cause the entire deal to collapse. Legal expert Bill Morgan warned that this error could seriously damage the agreement if it's not fixed.
Ripple isn’t giving up! They quickly filed a new request, asking the court for a special ruling under Rules 62.1 and 60(b). These rules allow changes to a court’s decision in certain situations, especially during an appeal.
The situation is now tense and unpredictable. This case could have a big impact on Ripple’s future—and maybe the whole crypto market. Can Ripple turn things around? Will the deal still happen?
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