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SYSTEM PROCESSING...
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SYSTEM PROCESSING...
Posted: 2025-05-16 13:21:28 UTC
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
Status
Last Updated
2025-05-16 13:30:09 UTC
Verified By
Rollup News
Judge Torres has denied the joint Ripple-SEC request for an "indicative ruling" to dissolve the injunction and reduce Ripple's penalty, citing procedural impropriety as the case is already under appeal in the Second Circuit. This means Ripple and the SEC must now formally appeal to the Second Circuit, likely causing delays, though the proposed $50M penalty is not invalidated but cannot proceed yet.
Judge Torres denied the Ripple-SEC request for an indicative ruling.
The motion aimed to dissolve the injunction and reduce Ripple’s penalty was deemed procedurally improper.
Ripple and the SEC must now appeal to the Second Circuit formally.
The settlement terms still stand but are delayed.
Procedural impropriety of the joint request.
The court lacks jurisdiction due to the ongoing appeal at the Second Circuit.
Potential delays in the settlement process.