The long -term legal confrontation between Ripple Labs and the US stock and values commission. UU. (Sec) could soon reach a resolution, Fox Business reported, citing “two well -placed sources.”
The case, which has been extended since December 2020, when the SEC accused Ripple of raising more than $ 1.3 billion through unregistered sales of his closely related token XRP, can finally be finishing, although not without being launched last minute on its terms.
The sources told Fox that Ripple’s legal team is pressing to renegotiate aspects of a fundamental ruling of 2023 by the Analisa Torres District Judge, from the Southern District of New York (SDNY). That decision ordered Ripple to pay a fine of $ 125 million for its institutional sales of XRP, which the court considered offers of unregistered securities while the company avoided the fine of almost $ 2 billion that the SEC had demanded. The SEC appeal the decision of Torres shortly before former President Gary Gensler resigned.
Torres’ ruling was widely considered a victory for Ripple at the time it was issued, because the court decided that its programmatic XRP sales for exchanges for the purchase by retail merchants did not constitute transactions of values. However, now that the SEC and its new leadership are in a large -scale retirement of many of its research on cryptographic companies, and has agreed to launch ongoing execution demands against companies such as Coinbase, Cumberland Drw and Kraken, Ripple’s partial victory cannot have such a sweet taste.
XRP rose 3% in the news.
A representative of Ripple did not respond to the request for comment from Coindesk at the time of publication.
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