RIPPLE vs. ANALISA TORRES
SUMMARY OF PROCESS STATUS AS OF MAY 18, 2025, 14:40 GMT 0.00 #
Key Conclusions
The SEC has officially withdrawn its case against Ripple, marking the end of a long legal battle.
Ripple followed suit by canceling its cross-appeal against the SEC, marking a final resolution.
Ripple will lose 50 million dollars from its 125 million dollar fine.
However, Judge Torres denies the settlement between Ripple and the SEC due to failures in the cancellation process.
Judge Analisa Torres has denied a joint request today, May 18, 2025, from the SEC and Ripple to reduce the civil penalty against Ripple in the ongoing XRP case.
The two parties had asked the court to approve a indicative ruling that would reduce Ripple's 125 million dollar fine to 50 million dollars.
However, in a ruling on May 15, Judge Torres rejected the request, deeming it procedurally improper, even if jurisdiction were restored.
The motion should have been filed pursuant to Rule 60, which contemplates modifications of final judgments and requires proof of exceptional circumstances. However, the filing did not meet those legal standards.
“If jurisdiction were to be restored to this Court, the Court would deny the parties' motion as procedurally improper,” Torres wrote.
Legal expert Fred Rispoli commented that the parties had simply applied the incorrect procedural standard. “They will refile under the correct standard,” he said, “but reading between the lines, Ripple and the SEC need to go on the defensive and seek compensation.”
$XRP
SUMMARY OF PROCESS STATUS AS OF MAY 18, 2025, 14:40 GMT 0.00 #
Key Conclusions
The SEC has officially withdrawn its case against Ripple, marking the end of a long legal battle.
Ripple followed suit by canceling its cross-appeal against the SEC, marking a final resolution.
Ripple will lose 50 million dollars from its 125 million dollar fine.
However, Judge Torres denies the settlement between Ripple and the SEC due to failures in the cancellation process.
Judge Analisa Torres has denied a joint request today, May 18, 2025, from the SEC and Ripple to reduce the civil penalty against Ripple in the ongoing XRP case.
The two parties had asked the court to approve a indicative ruling that would reduce Ripple's 125 million dollar fine to 50 million dollars.
However, in a ruling on May 15, Judge Torres rejected the request, deeming it procedurally improper, even if jurisdiction were restored.
The motion should have been filed pursuant to Rule 60, which contemplates modifications of final judgments and requires proof of exceptional circumstances. However, the filing did not meet those legal standards.
“If jurisdiction were to be restored to this Court, the Court would deny the parties' motion as procedurally improper,” Torres wrote.
Legal expert Fred Rispoli commented that the parties had simply applied the incorrect procedural standard. “They will refile under the correct standard,” he said, “but reading between the lines, Ripple and the SEC need to go on the defensive and seek compensation.”
$XRP
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XRP
2.4273
+1.62%
