The US Securities and Exchange Commission (SEC) and Ripple have taken another step in their long-running legal battle as they look to put the XRP lawsuit to bed. This time, the Commission has filed a settlement letter, asking Judge Analisa Torres to set aside her judgment against the crypto firm.
XRP Lawsuit: SEC Asks Judge Torres To Adopt Settlement Agreement
In a court filing, the SEC requested an indicative ruling from Judge Torres pursuant to its settlement agreement with Ripple. As part of the ruling, the Commission asked that the Court dissolve the injunction it awarded against Ripple in the final judgment in the XRP lawsuit.
The agency also asked that Judge Torres order the release of the $125 million penalty ordered against Ripple from escrow. The SEC would receive $50 million in satisfaction of the monetary judgment, while Ripple would receive the remaining sum.
If the Court issues the indicative ruling, the SEC and Ripple would move to the US Court of Appeals for a limited remand to seek such relief from the District Court. This forms part of the steps towards finalizing the settlement agreement, which both parties reached in March.
✓ Share:
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
