The American Securities and Exchange (SEC) and Ripple commission made a joint request to a Manhattan court to dissolve an existing injunction in their current legal affair. At the same time, they asked that the civil penalty of $ 125 million currently held in full -time.
According to the proposal, $ 50 million would go to the dry, while the remaining $ 75 million returned to Ripple. This decision is part of the efforts of the two parties to settle the longtime case, avoid new judicial battles and close the pending calls.
In their new judicial file, Ripple and the SEC have argued that “exceptional circumstances” now exist which justify the previous decision of Judge Torres. These include a regulation between the two parties, recent changes in the cryptographic policy of the dry and a mutual desire to avoid dragging the case longer.
The lawyer expresses doubt
However, this request comes just after Judge Torres denied a similar proposal in May. Legal expert Fred Rispoli shared his doubts about the new file. He explained that the previous refusal showed that the judge was clearly frustrated and expected a stronger and more detailed request this time. According to Rispoli, instead of fighting the failures of the dry in the regulation of the crypto and the offer of sincere excuses of Ripple, the new deposit only briefly mentioned other layoffs and a small note on the working group on the Crypto of the Sec.
Rispoli admitted that if the parties had cited enough legal reasons for the court to agree, they did the same in the last attempt – which was refused. He called the rare missteps of the Ripple’s legal team and warned that Judge Torres could again reject him.
However, Rispoli hopes that the judge could be ready to conclude the case. Even if the injunction remains in place, Ripple can continue to sell XRP to institutions, but not in the same way as before 2018. Although some prudent companies can stay away, people open to innovation could still go ahead.
The world of cryptography is now waiting to see how the Torres judge reacts to this last chapter of the long-term legal battle of the wave-dry.
