Judge Analisa Torres denied the joint motion from Ripple and the SEC to dissolve the injunction and reduce Ripple’s civil penalty, ruling that neither party demonstrated the exceptional circumstances required to overturn a final judgment based on a violation of federal law

Date

June 26, 2025

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A New York judge has denied a request from Ripple and the U.S. Securities and Exchange Commission to lift an injunction

U.S. District Judge Analisa Torres has officially denied the SEC’s latest motion. She has rejected the agency’s request for an indicative ruling that sought to dissolve a prior court order and reduce financial penalties against Ripple.

In a major development, Judge Analisa Torres has ruled on Ripple and the SEC’s joint motion for an indicative ruling, denying the request from both parties.

The parties must show exceptional circumstances that outweigh the public interest or the administration of justice,” Torres wrote in the ruling. “They have not come close to doing so here.

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Week 26 of 2025