Ripple and SEC: The Legal Tango Continues! 💃đŸ•ș

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In a delightful twist of fate that could only be concocted by the most imaginative of legal minds, Ripple Labs and the United States Securities and Exchange Commission (SEC) have decided to put their appeals on ice for the time being. Yes, you heard it right! They’ve penned a joint status report to the United States Court of Appeals for the Second Circuit, requesting that District Judge Analisa Torres sprinkle a bit of magic dust and amend the final ruling. đŸȘ„

This little tĂȘte-Ă -tĂȘte might just lead Ripple to the long-awaited victory or, conversely, throw a spanner in the works of a speedy settlement. Ah, the sweet taste of uncertainty! đŸ”

What’s Next in the Ripple vs. SEC Lawsuit?

Just two moons ago, Ripple and the SEC decided to file a motion to hold the lawsuit appeals in abeyance, which is legalese for “let’s just chill for a bit” after they reached a settlement. Who knew legal jargon could be so cozy?

Translation: The @SECGov and @Ripple have filed a status report with the Second Circuit and are asking it to keep a pause on the appeals while waiting on a decision from the district court.

— Eleanor Terrett (@EleanorTerrett) June 17, 2025

In a move that could only be described as a generous act of benevolence, the regulatory Commission decided to slash Ripple’s monetary penalty to a mere $50 million. They also requested that the court lift the injunction imposed by Judge Torres back in August, which, let’s be honest, was about as welcome as a rainstorm at a picnic, preventing Ripple from selling XRP to US-based institutional participants.

Fast forward to October 2024, when the SEC, under the watchful eye of Gary Gensler, decided to file a notice of appeal against Ripple. The “Civil Appeal Pre-Argument Statement,” or as I like to call it, the “Let’s Make This More Complicated” form, was sent to the US District Court for the Southern District of New York. 📜

According to this filing, the SEC requested that the court reassess how the law was applied in the initial ruling, rather than simply reviewing the outcome. They also took issue with Ripple’s distribution of XRP in exchange for something other than cash, which they insist requires further legal scrutiny. Because, of course, who doesn’t love a good legal review? 🙄

Not long after, Ripple decided to step up its game by submitting its cross-appeal, focusing on four main legal issues: the features of the alleged securities transactions, the treatment of institutional sales, the clarity of the injunction, and the fair notice defense. It’s like a legal buffet, and they’re sampling everything! đŸœïž

Judge Torres’ Verdict on Ripple and SEC’s Motion to Amend Final Judgment

In her infinite wisdom, Judge Torres stated that there was no compelling reason to amend the final ruling, especially if the case were to be remanded to the District court. The SEC and Ripple presented certain “exceptional circumstances” in their high-stakes motion, which sounds rather dramatic, doesn’t it?

As it stands, the condition for getting the court to dismiss the appeals is that Judge Torres agrees to modify the final judgment. The regulator is preparing to submit another status report by August 15, which is just around the corner. For now, pro-crypto lawyer John E. Deaton doesn’t see Judge Torres rushing to amend the final judgment, although he thinks she might eventually give in. Patience is a virtue, after all! ⏳

Someone posted a comment that said “we get it: you and @freddyriz believe @Ripple and the @SECGov should’ve kissed Judge Torres’ ass more.

That’s not it. In fact, I believe there’s a 70% chance she grants the relief requested and I’ll discuss it more in detail tomorrow. 👇


— John E Deaton (@JohnEDeaton1) June 14, 2025

Meanwhile, XRP price has been experiencing some fluctuations in the market. The coin traded at $2.23 at press time, following a 1.57% increase within the last 24 hours, according to CoinMarketCap data. In terms of trading volume, XRP is getting a lot of engagement. Its market cap has reached $131.4 billion, while its trading volume is pegged at $5.19 billion, with a 158.27% increase over the last 24 hours. Talk about a rollercoaster ride! 🎱

A wrap-up to the Ripple versus SEC lawsuit could stir a massive price breakout for the coin. So, hold onto your hats, folks! đŸŽ©

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2025-06-17 17:46