💦 Court rejects Ripple and SEC deal

Judge Analisa Torres denied a joint motion by Ripple ( $XRP ) and the U.S. Securities and Exchange Commission (SEC) to reduce the fine and lift the injunction.

The parties filed the document in April.

The Commission had previously sought an injunction against Ripple for securities-related activities, Torres emphasized. The regulator feared the company would continue potentially illegal activities.

"None of that has changed. Nevertheless, they now argue that it is in the public interest to reduce the civil penalty by sixty percent and vacate the injunction issued less than a year ago," the ruling said.

The judge added that the parties have not presented “exceptional circumstances” that outweigh the public and governmental interest. Ripple and the SEC can withdraw their appeals or file a new one, Torres said.
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