Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have asked federal judges to approve changes to the prohibited ripping order that would impose a $125 million fine.
Ripple and the SEC said in a petition to District Court Judge Analisa Torres for the Southern District of New York, it “justifies this change.”
The parties challenged various aspects of the court’s decision in October. However, as the SEC has adopted a more generous attitude towards cryptocurrency in the second term of the Trump administration, it hopes that dispute resolution between the parties will be restored. The SEC is reportedly ready to drop some of its requests and will support changing decisions to facilitate the settlement process.
Whether the decision will change will be made clear by Judge Torres’ decision.
The parties proposed to pay $50 million to the SEC, and returned the remaining funds to Ripple, reflecting the settlement reached in early May. “If the court makes a concession on the requested indicator decision, the SEC and Ripple will appeal to the Second Circuit Court of Appeals to seek limited compensation,” the filing.
*This is not investment advice.
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