Legal Dispute Between Ripple Labs and the Securities and Exchange Commission (SEC): Latest Update
Next Steps in Cryptocurrency Dispute
In the latest developments of the legal case between Ripple Labs and the SEC, Ripple has sent a letter supporting the joint proposal to request the court to issue an indicative ruling. This letter comes along with a request for both parties, including the SEC, to continue pausing the ongoing appeal at the Second Circuit Court of Appeals. The SEC has also been asked to provide a status update on the case before August 15, 2025.
Ripple Explanation About Legal Decision
In a letter to Judge Analisa Torres, Ripple emphasized that no party has suggested changing the previous Summary Judgment decision. This decision remains significant for future lawsuits related to cryptocurrencies. Ripple clearly emphasized that removing the 'law compliance' order will not reduce the company's securities compliance obligations. The company reaffirms that, like any other business, they must always comply with the law, whether there is a court order or not.
Benefits of Mediation and Impact on Cryptocurrency Regulation
Ripple stated that early mediation, with agreements to reduce penalties or offer other reasonable terms, would help avoid risks from ongoing appeals. This will also relieve the court system, which is already quite overloaded due to the prolonged lawsuit. Additionally, Ripple noted that the SEC is adjusting its cryptocurrency management strategy as it begins to withdraw from some crypto-related lawsuits and is forming a new Cryptocurrency Research Group aimed at building a clearer and fairer legal framework for the industry.
Impact on the Cryptocurrency Industry
As one of the first cryptocurrency companies targeted by the SEC, Ripple's lawsuit has become one of the most closely watched cases. The company seeks the court to recognize the mediation agreement, thereby relieving the court while still maintaining legal responsibility for Ripple. This move could set an important precedent for other blockchain projects, helping the cryptocurrency industry to develop more sustainably in an increasingly clearer legal landscape.
Source: https://tintucbitcoin.com/ripple-vs-sec-phan-quyet-cuoi-cung-sap-toi/
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