The company #ريبل , specializing in blockchain technology #Ripple , submitted a supplemental letter to support its request for a declaratory judgment.
Ripple argues that agreeing to the recently negotiated settlement would place the company "on equal footing" compared to other sector participants.
The letter stated: "...the settlement will also place Ripple on equal footing with other sector participants whose cases were dismissed very early in their lifecycle at the discretion of the U.S. Securities and Exchange Commission."
The U.S. Securities and Exchange Commission has previously rejected cases against major players like Coinbase and Kraken.
Regarding Ripple, the U.S. Securities and Exchange Commission agreed to reduce the company's fine to $50 million, lifting the injunction targeting institutional sales in the U.S.
Judge Analisa Torres recently indicated that she would refrain from modifying the final ruling due to the parties not demonstrating the extraordinary circumstances necessary for such a step.
After the judge found no compelling reason to modify the ruling, Ripple and the U.S. Securities and Exchange Commission filed a new request to reduce the penalty and dismiss the injunction. According to USA Today, some analysts believe this request is crucial for Ripple's case.
The letter stated: "Reaching a settlement now, on terms agreed upon by both parties, allows for the resolution of this arduous and taxing lawsuit that requires significant judicial resources."
On Monday, the U.S. Securities and Exchange Commission and Ripple asked the Second Circuit Court to suspend the appeal.
If Judge Torres denies the request, appeals are likely to continue, and the case may extend into next year.
