Judge Rejects SEC and Ripple's Bid to Rework XRP Settlement

Description

A federal judge has denied a joint bid by the SEC and Ripple Labs to approve their settlement, citing procedural errors just weeks after both sides agreed to drop their appeals and end a four-year legal battle.

Authors

Vismaya V

Publish date

May 16, 2025

Publisher

Decrypt

Web URL

https://decrypt.co/320398/judge-rejects-sec-ripples-xrp-settlement

Referenced by

Last month, Ripple Labs and the SEC jointly filed a request to the Second Circuit to suspend those appeals as they “pursue a negotiated resolution” of their case. The filing also confirmed that the SEC would drop its October appeal. However, the Second Circuit has not yet ruled on that request.

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In July 2023, Judge Torres ruled that institutional sales violated securities laws but that exchange-based retail sales did not, triggering a ray of optimism in the crypto industry.

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In its last week announcement, the SEC formally confirmed the $50 million deal. Ripple will pay the reduced fine, with the remaining $75 million in escrow returned to the company.

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