#Ripple Labs has submitted a supplemental letter in support of the motion for an indicative ruling in the SEC lawsuit.
In a letter addressed to U.S. District Judge Analisa Torres, Ripple further explained why she should grant the parties’ request for an indicative ruling.
The recent filing comes less than a week after the SEC and Ripple refiled the motion to obtain an indicative ruling from Judge Torres.
For context, the parties request an indicative ruling from the judge to modify her final judgment by dismissing the permanent injunction imposed on Ripple’s future XRP sales and reducing the penalty to $50 million.
While the judge initially denied the request, the SEC and Ripple jointly refiled the indicative ruling motion to satisfy the ‘exceptional circumstances’ criteria. Ripple has now filed a supplemental letter supporting the recently filed motion.
Ripple’s Supplemental Letter
In the supplemental letter, Ripple clarified the scope of the requested relief. The filing stressed that the parties are not asking Judge Torres to revise her summary judgment order. Ripple acknowledged that the order remains binding on the company and serves as a guide to other courts.
Additionally, the motion contended that the potential dismissal of the permanent injunction does not absolve Ripple from complying with federal securities laws.
“[…] Like every other market participant, [Ripple] is obligated to follow the law, regardless of whether an injunction is imposed or not,” the motion read.
Meanwhile, according to the motion, granting the indicative ruling based on the settlement agreement would help end the multi-year legal dispute, potentially saving costs for the parties and the appellate court.
Furthermore, Ripple highlighted the SEC’s evolving crypto policy. It emphasized that the regulator has dismissed multiple crypto enforcement actions, established a Crypto Task Force unit, and signaled intentions to create regulatory standards for the industry.
Based on the SEC’s pro-crypto initiative,
