- Judge Torres maintains Ripple’s institutional sales injunction despite a $125M penalty.
- XRP retail trading remains unaffected.
- The legal decision emphasizes historical institutional activity’s compliance concerns.
Brad Garlinghouse’s Ripple, the focal point of the SEC’s 2020 lawsuit, faced another judicial decision in its ongoing legal saga with Judge Analisa Torres denying the joint request to modify the institutional sales injunction.
Ripple’s legal battle holds significance due to its implications for XRP’s institutional sale status and regulatory standards. The court’s stance continues to influence the cryptocurrency sector, albeit with limited immediate market disturbances.
The SEC’s legal action against Ripple Labs, initiated in 2020, continues to produce headlines as Judge Analisa Torres recently upheld an injunction concerning Ripple’s institutional XRP sales. Meanwhile, the SEC’s efforts to alter Ripple’s institutional restrictions remain unsuccessful.
Ripple, led by CEO Brad Garlinghouse, has been dealing with a significant legal and financial strain from the ongoing case since its inception. The judge’s ruling preserves Ripple’s $125 million penalty and historical institutional sales injunction.
XRP’s retail market status is unaffected, leaving the broader market relatively calm. The decision has repercussions largely confined to historical compliance concerns, without major price fluctuations in XRP or other significant cryptocurrencies.
Longer-term, these legal developments may shape regulatory approaches to cryptocurrency securities. Analysts are monitoring the ways in which this enhances precedents for digital asset classification, potentially affecting future business models and regulatory compliance strategies.
Indeed, if the Court should not be concerned about Ripple violating the law, why do the parties want to eliminate the injunction that tells Ripple, ‘Follow the law’? … When the Court imposed the injunction, it did so because it found a ‘reasonable probability’ that Ripple would continue violating federal securities laws. This has not changed, nor do the parties claim that it has.
[Source](https://twitter.com/Belisarius2020/status/1937839931843571926)
| Disclaimer: The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |