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Ripple and SEC Align on Relief Adjustment in XRP Case, Lawyer Explains Why
In a recent development, Ripple and the Securities and Exchange Commission (SEC) have joined forces to revise the relief terms issued by Judge Analisa Torres. This move marks a significant shift in the long-standing case between the two parties.
As part of this joint motion, both the SEC and Ripple are seeking an “indicative ruling” from Judge Torres, which would modify the relief imposed earlier. The original decision had deemed Ripple liable for selling hundreds of millions of dollars’ worth of unregistered securities, resulting in a $125 million penalty and a ban on future violations.
It appears that Ripple is attempting to adjust these terms, aiming for better legal arrangements amidst concerns about potential appeals. This development suggests the company believes the SEC’s shifting regulatory stance may support a more lenient outcome.
Moreover, former SEC lawyer Marc Fagel recently revealed that it is actually Ripple who is responsible for delaying the case from being resolved, not the SEC. He highlighted that Ripple wants to dissolve the injunction imposed by Judge Torres.
Source: www.crypto-news-flash.com
