Gate News bot news, after nearly five years of litigation, Ripple and the SEC have finally reached a settlement, but both sides still need to convince the judge to rewrite the ruling.
The latest joint motion from both parties requests Judge Analisa Torres to lift the injunction against Ripple and reduce its $125 million fine to $50 million, on the grounds that "special circumstances" justify the request.
But cryptocurrency lawyer John Deaton stated in a recent X broadcast that this motion "misses the point." He warned that the judge would not hastily overturn her carefully crafted ruling over the years.
In his view, the motion missed a key persuasive opportunity. It failed to emphasize how the SEC implemented overly aggressive and contradictory enforcement strategies under the leadership of former Chairman Gary Gensler, a strategy that has been revoked under the current Chairman Paul Atkins.
The ruling also did not adequately argue why Ripple should lift the injunction, which Deaton referred to as a "dark cloud," while other companies enjoy regulatory clarity.
Torres previously ruled that XRP does not constitute a security in secondary market sales, but ruled that Ripple's institutional sales did violate securities laws.
Deaton, speaking about Judge Torres, stated: "She applied the law." He pointed out that a judge would not easily overturn a ruling without compelling reasons.
Deaton believes that the chances of the motion being approved are 70%, which indicates that Judge Torres may be more inclined towards a final ruling rather than going through litigation again.
If the motion is rejected, the case will return to the Second Circuit Court of Appeals, and both parties' appeals will be put on hold pending the judgment results.
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Ripple and the SEC have finally reached a settlement, seeking to lift the court's injunction.
Gate News bot news, after nearly five years of litigation, Ripple and the SEC have finally reached a settlement, but both sides still need to convince the judge to rewrite the ruling.
The latest joint motion from both parties requests Judge Analisa Torres to lift the injunction against Ripple and reduce its $125 million fine to $50 million, on the grounds that "special circumstances" justify the request.
But cryptocurrency lawyer John Deaton stated in a recent X broadcast that this motion "misses the point." He warned that the judge would not hastily overturn her carefully crafted ruling over the years.
In his view, the motion missed a key persuasive opportunity. It failed to emphasize how the SEC implemented overly aggressive and contradictory enforcement strategies under the leadership of former Chairman Gary Gensler, a strategy that has been revoked under the current Chairman Paul Atkins.
The ruling also did not adequately argue why Ripple should lift the injunction, which Deaton referred to as a "dark cloud," while other companies enjoy regulatory clarity.
Torres previously ruled that XRP does not constitute a security in secondary market sales, but ruled that Ripple's institutional sales did violate securities laws.
Deaton, speaking about Judge Torres, stated: "She applied the law." He pointed out that a judge would not easily overturn a ruling without compelling reasons.
Deaton believes that the chances of the motion being approved are 70%, which indicates that Judge Torres may be more inclined towards a final ruling rather than going through litigation again.
If the motion is rejected, the case will return to the Second Circuit Court of Appeals, and both parties' appeals will be put on hold pending the judgment results.
Source: DL News