Ripple & SEC: Another Dismissal Attempt
Ripple and the SEC have filed another motion to dismiss their ongoing legal battle, seeking to end their dispute over XRP sales. This comes after US District Judge Analisa Torres denied a similar motion last month. Legal experts are largely skeptical of this renewed attempt, viewing it as unlikely to succeed.
The Ripple-SEC Saga Continues
The SEC vs. Ripple case, a landmark legal clash, has dragged on for some time. Despite the SEC dropping its suit against Ripple in March, lingering issues have led to repeated court appearances. This latest filing represents yet another attempt to resolve these remaining disputes before Judge Torres.
Another Attempt to Dismiss
Both parties have presented arguments to Judge Torres, with Ripple and the SEC seeking to dismiss the remaining injunction and the associated $125 million civil penalty currently held in escrow. They've proposed a settlement where $50 million goes to the SEC, and the rest is returned to Ripple. This proposal cites the SEC's recent shift in crypto policy as exceptional circumstances warranting a dismissal.
However, legal professionals such as trial lawyer Fred Rispoli have expressed concerns about the filing, citing its perceived lack of detail and depth. Many legal experts believe Judge Torres will reject this motion as well, given its similarities to the previously rejected filing. Some legal commentators believe the proposal does not offer sufficiently compelling justification to overturn the previous ruling.
What Happens Next?
The key date is June 16th. If Judge Torres denies the motion, Ripple faces a potentially lengthy delay, potentially pushing any resolution into 2026. Even if both parties agree on a resolution, the final decision may be out of their hands, leaving Ripple to potentially face a future where it's unable to reverse the previous ruling regarding securities sales.
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Disclaimer: This information is for educational purposes only and should not be considered financial or legal advice. Always conduct your own thorough research and consult with a qualified professional before making any decisions related to cryptocurrency or blockchain technology.