SEC and Ripple Seek Court Approval to Split $125 Million Penalty, Citing Policy Shift and Prior Judge Torres Decision
The post SEC and Ripple Seek Court Approval to Split $125 Million Penalty, Citing Policy Shift and Prior Judge Torres Decision appeared on BitcoinEthereumNews.com. The SEC and Ripple Labs have jointly requested a Manhattan District Court to dissolve the injunction in their ongoing legal case The U.S. Securities and Exchange Commission (SEC) and Ripple Labs have jointly requested a Manhattan District Court to dissolve the injunction in their ongoing legal case and release a $125 million civil penalty currently held in escrow. Their proposal suggests that $50 million of the penalty be paid to the SEC, while the remaining $75 million would be returned to Ripple. This joint motion follows a May decision by Judge Torres, who previously denied a similar request. The filing cites “exceptional circumstances,” including a settlement, the SEC’s shift in cryptocurrency policy, and a mutual desire to avoid further litigation, as reasons to modify the final judgment and bring the years-long case toward resolution. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz. Source: https://thedefiant.io/news/regulation/sec-ripple-seek-court-approval-to-split-125-million-penalty-citing-policy-shift-c2f3f042
The post SEC and Ripple Seek Court Approval to Split $125 Million Penalty, Citing Policy Shift and Prior Judge Torres Decision appeared on BitcoinEthereumNews.com.
The SEC and Ripple Labs have jointly requested a Manhattan District Court to dissolve the injunction in their ongoing legal case The U.S. Securities and Exchange Commission (SEC) and Ripple Labs have jointly requested a Manhattan District Court to dissolve the injunction in their ongoing legal case and release a $125 million civil penalty currently held in escrow. Their proposal suggests that $50 million of the penalty be paid to the SEC, while the remaining $75 million would be returned to Ripple. This joint motion follows a May decision by Judge Torres, who previously denied a similar request. The filing cites “exceptional circumstances,” including a settlement, the SEC’s shift in cryptocurrency policy, and a mutual desire to avoid further litigation, as reasons to modify the final judgment and bring the years-long case toward resolution. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz. Source: https://thedefiant.io/news/regulation/sec-ripple-seek-court-approval-to-split-125-million-penalty-citing-policy-shift-c2f3f042
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