A New York federal judge overseeing the Securities and Exchange Commission’s (SEC) enforcement case against Ripple Labs has denied a joint motion from both parties seeking an indicative ruling or settlement in the ongoing lawsuit
A New York federal judge overseeing the Securities and Exchange Commission’s (SEC) enforcement case against Ripple Labs has denied a joint motion from both parties seeking an indicative ruling or settlement in the ongoing lawsuit. Judge Torres refused to signal any reconsideration of her previous decisions if the case were remanded by a higher court, citing procedural impropriety in how the motion was presented. This ruling does not affect Ripple’s earlier legal victories, including the determination that its digital asset XRP is not classified as a security. Both Ripple and the SEC remain aligned in their intent to resolve the case and plan to revisit the matter with the court in due course. The decision maintains the status quo in the penalty phase of the litigation, providing reassurance to XRP holders about the token’s legal standing.
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Source: https://thedefiant.io/news/regulation/judge-torres-denies-sec-ripple-settlement-motion-citing-procedural-impropriety-2eeeaf69