A major breakthrough might be around the corner in the long-running legal battle between Ripple Labs and the U.S. SEC over $XRP
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đ On June 12, both Ripple and the SEC jointly filed a new motion urging Judge Analisa Torres to dissolve the final injunction and unlock $125 million in escrowed funds đ°
đ Hereâs Whatâs Happening:
Ripple & SEC are pushing for a final court ruling that would: â End the injunction
â Release $125M in funds
â Distribute $50M to the SEC and the remainder back to Ripple
The motion leans on Rules 60(b) and 62.1 of federal procedure, requesting a signal from the court to allow further progress, even as the case remains on appeal đïž
âïž Judge Torres had previously denied a similar request in May, citing lack of âexceptional circumstances.â
But this time, both parties argue: âĄïž It avoids more delays
âĄïž Promotes judicial efficiency
âĄïž Aligns with the SECâs evolving stance under interim Chair Mark Uyeda đ€
đ Why This Matters: This legal clash, which began in December 2020, is one of the most high-profile cases in crypto regulation history. It questions whether XRP was sold as an unregistered security â a ruling here could reshape how U.S. law applies to digital assets.
đ§ This move could also signal a new era of settlement-friendly enforcement by the SEC â a positive shift for the broader crypto space!
đ If approved, the courtâs decision would not only free locked funds but potentially mark the end of a legal saga thatâs cast a shadow over Ripple for years.
đŹ What do you think? Is this a green light XRP holders have been waiting for?