Ripple Labs reaffirms its legal position in the long battle against the SEC. The statement "the ball is in our court" refers to the latest legal steps taken by the company in response to the SEC's fine request, while also emphasizing that the fundamental status of XRP remains unchanged.
Key Points:
* Current Context: The case has entered the "remedy phase," where the focus is on determining the amount of fine Ripple must pay for the sale of XRP to institutional investors in the past. The SEC previously demanded a very large fine, reaching nearly $2 billion.
* Legal Status of XRP: The core of Ripple's belief is the historic ruling by Judge Analisa Torres in July 2023. In that ruling, the judge decided that the sale of XRP on cryptocurrency exchanges to the public (programmatic sales) could not be classified as security transactions. This ruling is the basis for Ripple's claim that "the legal status of XRP as a non-security remains unchanged."
* Ripple's Argument: In its latest legal document, Ripple argues that the fine requested by the SEC is disproportionate. They point to other cases, such as the Terraform Labs case, where the fines imposed were much lower in percentage terms. Ripple essentially states that the SEC's demands are excessive and inconsistent with existing legal precedents.
* What are the Next Steps? The "ball" is now in the court's hands. After Ripple submits its rebuttal arguments, Judge Torres will review the arguments from both sides (SEC and Ripple) before making a final decision regarding the amount of fine and sanctions. This decision is expected to be one of the final chapters of this years-long legal saga.
In short, the fight is no longer about whether XRP itself is a security for the general public—the court has clarified that—but rather about how much fine Ripple must pay for past institutional sales.#RİPPLE #XRPBoom $XRP