The Legal Dispute Between Ripple Labs and the SEC Continues to Stall
The long legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has just entered a new pause. Both sides have requested the U.S. Court of Appeals for the Second Circuit to postpone the appeal proceedings until August 15, 2025. This means the trial process will be delayed by at least another two months.
Why is there this delay?
The main reason is that Ripple and the SEC are trying to negotiate a settlement. In April, both sides discussed moving towards a final agreement and requested the court to issue a 'directive' to expedite this process.
The intention is to amend the permanent injunction against Ripple while reducing the fine from $125 million to $50 million. However, this effort hit a snag in mid-May when Judge Analisa Torres denied the joint request from both parties, failing to meet the 'extraordinarily rare' condition to change the final ruling.
Second attempt — Waiting still remains
Not giving up, Ripple and the SEC filed a new petition on June 12, requesting to lift the ban against Ripple and adjust the penalty distribution. So far, this petition is still pending, and Judge Torres has not issued an official ruling.
Meanwhile, the SEC has also submitted a new status report to the Second Circuit Court of Appeals, requesting to keep the case in a paused state pending a response from the judge until August 15.
What’s next for XRP?
If negotiations succeed, it is highly likely that the restrictions on Ripple will be lifted, potentially driving the price of XRP to grow positively. Legal experts believe this move could be a strategy to avoid further lengthy and costly litigation.
Currently, the price of XRP is fluctuating around $2.21, reflecting a slight increase over the past 24 hours, with a market capitalization of $130.5 billion. This legal event is expected to continue to have a strong impact on the price of the cryptocurrency XRP in the near future.
Source: https://tintucbitcoin.com/xrp-dinh-tre-den-15-8-tuong-lai-ra-sao/
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