Ripple is at the crossroads following judge Annala Torres in the long time Dry trial. The crypto firm will now have to decide to drop the appeal or move forward to obtain a reparation for the judgment of Judge Torres.
Ripple faces a setback in the pursuit against dry
A justice document shows that Judge Torres rejected Ripple and the joint request of the SEC for an indicative decision. The decision aimed to absolve the Crypto company while the two parties asked the judge to dissolve the injunction and reduce monetary judgment $ 50 million against $ 125 million.
Torres said that Ripple and the dry have not shown exceptional circumstances which prevail over the public interest or the administration of justice. As such, she is not convinced to modify her judgment. She also clearly indicated that if the jurisdiction was restored to her court, she would still refuse the requests of the parties to leave the injunction and reduce the civil sanction.
The court also stressed the fact that nothing, In relation to the violations of RippleChanged since the decision against the cryptographic firm, but the two parties barely claim that he did. Judge Torres noted the arguments of the dry and how the Commission clearly indicated that Ripple would continue to violate the laws on securities without injunction.
As such, it rejected the argument that the injunction and civil sanction only concern unique facts of the case and not of the public interest. It alluded to the fact that the commission argued that a civil sanction was also necessary to send a deterrent strong message to Ripple and others. The judge was also not convinced by the argument that The dry had dropped Other application actions, noting that the facts in these cases differ from the Ripple case.
What is the next step in the XRP trial
Judge Torres pointed out that Ripple and the dry are free to withdraw their calls if they really want the trial already. On the other hand, she said that the Crypto Company can continue With his call if he really wants to compensate for his final judgment. The judge clearly indicated that Ripple and the SEC do not have the power to accept not to be bound by a final judgment.
As such, they cannot simply put their judgment aside because they have a settlement agreement in place. Instead, only a superior court can cancel its judgment on appeal. Legal expert Fred Rispoli predicts This undulation and the dry abandon their calls and agree on a settlement of $ 50 million, the remaining injunction.
Ripple Legal Chief (CLO) Stuart Alderoty noted That the ball is now in their courtyard, and they will decide what to do next. He agreed with Torres judge that they can either abandon the appeal, or contest the conclusion on historical institutional sales with the appeal. Anyway, he noticed that XRP’s legal status Because no security remains unchanged.
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