SEC vs Ripple continuation of the story

[hugeblack]

US is becoming a horror ground for altcoins businesses. I wonder why these companies are moving out permanently? This kind of attacks from government bodies should be enough as a reason to move out somewhere safer like Dubai or Singapore.

The ultimate goal is not necessarily financial, especially since we are talking about federal agencies, but it may be to create more pressure to increase compliance with these companies with regulations, as they can intervene in the industry and force companies to add block lists and blacklists.

[Z-tight]

SEC is doing such extortion under the leadership of Gary. After November election outcome I am sure Gary will resign. In that scenario such kind of extortion, which I have been writing will go down.

Isn't that if Donald Trump wins the election, Trump said in a BTC conference few weeks ago that he would fire Gary Gensler if he becomes president, i am not so sure if he can fire him, but he will have the power and the influence as the president to make him lose his job. However, what of Kamala, do you think she will work with Gensler as the chairman of the sec or will she push for his removal and a replacement of her own choice if she is president.

[zasad@]

https://coinpedia.org/news/unraveling-allegations-of-ripples-xrp-price-surge-using-bot-manipulation-claims/
Ripple Hit with Bot Manipulation Claims, But XRP Price Unfazed
"Ripple faces new accusations of using bots to manipulate XRP prices in 2015 and 2016, according to court documents.

Despite the lawsuit and bot allegations, XRP's price continues to rise, reaching $0.58 and potentially aiming for $0.64.

Technical indicators suggest continued growth for XRP, but experts advise caution."

____
I'm not interested in Ripple, but I still think that the SEC will not give up trying to persecute Ripple

SEC is probably looking to extort Ripple labs for a few billion dollars. It's hilarious to see such an alligation to be honest. I am not sure if there's a way to prove their bot usage back in 2015-16. But I am sure SEC will eventually succeed in this case and fill the coffers of US government by a few billion dollars.

US is becoming a horror ground for altcoins businesses. I wonder why these companies are moving out permanently? This kind of attacks from government bodies should be enough as a reason to move out somewhere safer like Dubai or Singapore.

https://www.theblock.co/post/319246/sec-appeals-ripple-case-ruling-citing-conflict-with-supreme-court-precedent

"SEC appeals Ripple case ruling, citing conflict with Supreme Court precedent

The Securities and Exchange Commission is appealing a previous judgment regarding the web3 payments firm Ripple.
“We believe that the district court decision in the Ripple matter conflicts with decades of Supreme Court precedent and securities law,” an SEC spokesperson said. "

https://x.com/bgarlinghouse/status/1841597085264839113?s=46&t=0uHDZtRrE5PWiHA9DcmPMA
Brad Garlinghouse:

"If Gensler and the SEC were rational, they would have moved on from this case long ago. It certainly hasn’t protected investors and instead has damaged the credibility and reputation of the SEC.

Somehow, they still haven't gotten the message: they lost on everything that matters. Ripple, the crypto industry, and the rule of law have already prevailed.

While we'll fight in court for as long as we need, let's be clear: XRP’s status as a non-security is the law of the land today - and that does not change even in the face of this misguided - and infuriating - appeal.
(Remember, when the SEC tried unsuccessfully to file an “interlocutory appeal” they made clear they had no intention of challenging XRP’s status as a non-security.)"

___
The battle continues..

[Z-tight]

The battle continues..

Yeah it does and i believe a lot of us knew the sec was going to appeal the initial verdict, however, i thought that part of the initial verdict was that the sec cannot appeal nor contest the ruling that ripple is not a security or did i get that point wrongly.

In another related news, ripple is also considering a cross-appeal to challenge the $125 million fine that was imposed on them in judge Analisa Torres' ruling in August. So the legal battle between the sec and ripple is very far from over at this point.

[zasad@]

https://x.com/s_alderoty/status/1841596012588114116

"(1) The SEC's decision to appeal is disappointing, but not surprising. This just prolongs what's already a complete embarrassment for the agency. The Court already rejected the SEC’s suggestion that Ripple acted recklessly, and there were no allegations of fraud and, of course, there were no victims or losses.

(2) Instead of faithfully applying the law, this agency, under this Chair, continues to engage in litigation warfare against the industry. We are evaluating whether to file a cross appeal. Either way, the SEC's lawsuit has been irrational and misguided from the start, and we're ready to prove that yet again in the appellate court (once again taking the lead for the industry)

(3) Coincidence that the SEC’s Enforcement Director announced his resignation about an hour before this?"

___
 I'll stock up on popcorn.

[Z-tight]

I'll stock up on popcorn.

Same here too, however, i am disappointed that the sec have decided to appeal the initial ruling, i think they are spending unnecessary funds in this litigation process, and it is likely to eventually end in another defeat for the sec. I think they should have simply conceded defeat and taken the $125 million dollar fine.

(3) Coincidence that the SEC’s Enforcement Director announced his resignation about an hour before this?"

It could be coincidence, or maybe he is tired of the secs unfounded harassment of crypto firms and projects, we'll never know what the real reason for his resignation is.

[zasad@]

I'll stock up on popcorn.

Same here too, however, i am disappointed that the sec have decided to appeal the initial ruling, i think they are spending unnecessary funds in this litigation process, and it is likely to eventually end in another defeat for the sec. I think they should have simply conceded defeat and taken the $125 million dollar fine.

(3) Coincidence that the SEC’s Enforcement Director announced his resignation about an hour before this?"

It could be coincidence, or maybe he is tired of the secs unfounded harassment of crypto firms and projects, we'll never know what the real reason for his resignation is.

I don't really understand who's spending the funds?
The SEC has a budget and all SEC lawyers get paid, but Ripple's spending on lawyers is huge. And traditionally, Ripple won't pay those expenses back by court order.

[safar1980]

Ripple Chief Legal Officer Stuart Alderoty recently said that the court's ruling that "XRP is not a security" has not been appealed by the SEC. Ripple plans to file its own Form C next week as a cross-appeal against the institutional sales ruling that it is a security.

[zasad@]

https://decrypt.co/301226/sec-appeals-ripple-ruling-seeks-reversal-on-xrp-classification

SEC Appeals Ripple Ruling, Seeks Reversal on XRP Classification
While the regulator already filed its appeal in mid-October, Wednesday’s opening brief represents a formal step in the appellate process.

"The U.S. Securities and Exchange Commission has formally filed an appeal in its legal battle with Ripple Labs, challenging a July 2023 ruling that partially dismissed claims against the company.

Filed late Wednesday, the appeal focuses on whether Ripple’s XRP sales to retail investors qualify as unregistered securities transactions under federal law.

Citing the Howey Test, the SEC argues that Ripple’s promotional efforts created an expectation of profits among investors, making XRP an investment contract.

Ripple and the SEC did not immediately respond to Decrypt's request for comment."

[zasad@]

https://x.com/EleanorTerrett/status/1899852341374779587

Eleanor Terrett(C)

"Two well-placed sources tell me that the @SECGov vs. @Ripple case is in the process of wrapping up and could be over soon.

My understanding is that the delay in reaching an agreement is due to Ripple's legal team negotiating more favorable terms regarding the August district court ruling, which imposed a $125M fine on the company and included a permanent injunction preventing the company from selling $XRP to institutional investors.

The argument, I’m told, is that if the new SEC leadership is wiping the enforcement slate clean for all previously-targeted crypto firms because it believes regulatory clarity will resolve the underlying issue, why should Ripple still be penalized? Accepting the Torres ruling as it stands would mean that Ripple is essentially agreeing to admit to wrongdoing — but now the SEC itself is seemingly unsure whether any wrongdoing occurred.

There’s no real playbook for this kind of thing which could explain why this case is taking longer to resolve than the rest. Stay tuned."

[bbc.reporter]

https://decrypt.co/301226/sec-appeals-ripple-ruling-seeks-reversal-on-xrp-classification

SEC Appeals Ripple Ruling, Seeks Reversal on XRP Classification
While the regulator already filed its appeal in mid-October, Wednesday’s opening brief represents a formal step in the appellate process.

"The U.S. Securities and Exchange Commission has formally filed an appeal in its legal battle with Ripple Labs, challenging a July 2023 ruling that partially dismissed claims against the company.

Filed late Wednesday, the appeal focuses on whether Ripple’s XRP sales to retail investors qualify as unregistered securities transactions under federal law.

Citing the Howey Test, the SEC argues that Ripple’s promotional efforts created an expectation of profits among investors, making XRP an investment contract.

Ripple and the SEC did not immediately respond to Decrypt's request for comment."

This appeal has been removed and stopped by the SEC hehehe. On your last post, Eleneor Terrett mentioned that accepting the Torres ruling was an admittance by Ripple of wrongdoing, however, how can it also close the case without accepting the ruling? Ripple has chosen a favorable settlement, pay the fine and continue their business. This will have a similar occurrence on the other cases. The SEC will give everyone favorable rulings, collect their money and create a new regulatory structure from where future rulings will be based.

This is the fault of Uncle Gary. He begun a regulations through enforcement tactics and cases where the next SEC chairman has difficulties for this to continue.

[zasad@]

https://decrypt.co/301226/sec-appeals-ripple-ruling-seeks-reversal-on-xrp-classification

SEC Appeals Ripple Ruling, Seeks Reversal on XRP Classification
While the regulator already filed its appeal in mid-October, Wednesday’s opening brief represents a formal step in the appellate process.

"The U.S. Securities and Exchange Commission has formally filed an appeal in its legal battle with Ripple Labs, challenging a July 2023 ruling that partially dismissed claims against the company.

Filed late Wednesday, the appeal focuses on whether Ripple’s XRP sales to retail investors qualify as unregistered securities transactions under federal law.

Citing the Howey Test, the SEC argues that Ripple’s promotional efforts created an expectation of profits among investors, making XRP an investment contract.

Ripple and the SEC did not immediately respond to Decrypt's request for comment."

This appeal has been removed and stopped by the SEC hehehe. On your last post, Eleneor Terrett mentioned that accepting the Torres ruling was an admittance by Ripple of wrongdoing, however, how can it also close the case without accepting the ruling? Ripple has chosen a favorable settlement, pay the fine and continue their business. This will have a similar occurrence on the other cases. The SEC will give everyone favorable rulings, collect their money and create a new regulatory structure from where future rulings will be based.

This is the fault of Uncle Gary. He begun a regulations through enforcement tactics and cases where the next SEC chairman has difficulties for this to continue.

I agree that this circus should have ended a long time ago. Ripple spent hundreds of millions of dollars on lawyers, and the court battle started in 2020.

This resounding victory came at a huge cost, but it was very much influenced by the actions of the new president.

[zasad@]

https://x.com/s_alderoty/status/1904587116488917053


"Stuart Alderoty(C)
The final crossing of t’s and dotting of i’s – and what should be my last update on SEC v Ripple ever…

Last week, the SEC agreed to drop its appeal without conditions.
@Ripple
 has now agreed to drop its cross-appeal. The SEC will keep $50M of the $125M fine (already in an interest-bearing escrow in cash), with the balance returned to Ripple. The agency will also ask the Court to lift the standard injunction that was imposed earlier at the SEC’s request. All subject to Commission vote, drafting of final documents and usual court processes.

That’s all folks!"

[zasad@]

The End!
Ripple Will Pay $50 Million Instead of $125 Million

https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26306

Ripple Labs, Inc., Bradley Garlinghouse, and Christian Larsen
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 26306 / May 8, 2025
@Securities and Exchange Commission v. Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen, Case No. 1:20-cv-10832 (S.D.N.Y. filed Dec. 22, 2020)
SEC Announces Settlement Agreement to Resolve Civil Enforcement Action Against Ripple and Two of Its Executives
The Securities and Exchange Commission today filed a settlement agreement entered into with defendants Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen that lays out a framework for resolving the Commission’s civil enforcement action against them.

The settlement agreement provides, among other things, that the Commission and Ripple would jointly request the district court to issue an indicative ruling as to whether it would dissolve the injunction against Ripple in the district court’s August 7, 2024 final judgment and order the escrow account holding the $125,035,150 civil penalty imposed by the final judgment be released, with $50 million paid to the Commission in full satisfaction of that penalty and the remainder paid to Ripple. The Settlement Agreement further provides that, following an indication from the district court that it would dissolve the injunction and release the escrowed penalty amounts as requested, the Commission and Ripple will seek a limited remand to the district court for that relief, after which they would move to dismiss their respective appeals from the final judgment, which are currently pending in the United States Court of Appeals for the Second Circuit. The Commission and the defendants filed the settlement agreement with the district court as part of their joint request for an indictive ruling.@

[zasad@]

https://x.com/FilanLaw/status/1923075612299649405

XRPCommunity #SECGov v. #Ripple #XRP Judge Torres has denied the parties’ motion for an indicative ruling.  “If jurisdiction were restored to this Court, the Court would deny the parties’ motion as procedurally improper.”

__
The point:
"The regulator and Ripple filed the request under the guise of “approval of the settlement agreement,” but Judge Analisa Torres viewed it as an attempt to change the verdict already rendered.

The court’s previous decisions, including the $125m fine for Ripple, remain in effect. The company and the regulator will have to find other ways to resolve the dispute."

[Oohio]

What is strange is that XRP is centralized and it is possible to reach agreements to a large extent with the team, especially since its main orientation is in financial transfers between banks and as a cheap alternative to SWIFT and not a decentralized currency.
In general, the SEC's focus on cryptocurrencies and their constant push for settlements will eventually lead to these companies either starting a legal battle against the SEC or moving their business from the United States and avoiding US market as much as possible.

have been following the price of ripple for sometime now with optimistic tendencies. i even had to purchase much. but i think moving outside the states may reduce the confidence level. also, starting legal battles against SEC is not ideal but looking out for a good compromise with SEC for a win-win resolution once and for all.
my opinion though

[zasad@]

https://x.com/EleanorTerrett/status/1938225485181284602
" Judge Torres’s message in the ruling is that private deals don’t erase public judgments and her judgment still serves the public interest.

“The parties do not have the authority to agree not to be bound by a court’s final judgment… They have not come close to doing so here.”

If they want out, she said, they can withdraw their appeals and let the judgment stand, or go through the appeals process to challenge it."

___
In short, Ripple wants to pay $50m and the judge says to pay $125m

[FP91G]

SEC and Ripple Drop Appeals, Ending XRP Case and Cementing 2023 Court Ruling
The long-running legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has officially come to a close. Both parties have filed to dismiss their respective appeals, finalizing a key 2023 court decision that split XRP token sales into securities and non-securities classifications. The news has sent XRP’s price soaring over 10% in the past 24 hours, reaching $3.31, according to CoinGecko.

On Thursday, the SEC and Ripple submitted a joint filing to the U.S. Court of Appeals for the Second Circuit. In it, both the regulator and the blockchain company agreed to drop their appeals and cover their own legal expenses. This move marks the final chapter in a legal fight that began in December 2020 and has shaped how crypto assets are interpreted under U.S. securities laws.

Ripple to Pay $125M Penalty as Part of Settlement
In June 2025, Ripple had agreed to a $125 million civil penalty, which was placed into escrow pending the outcome of the appeals. With the case now closed, those funds will be released to the U.S. Treasury. However, a permanent injunction remains in place that restricts Ripple from selling XRP to institutional investors—one of the key points of contention during the case.

This final resolution means the 2023 ruling delivered by U.S. District Judge Analisa Torres will stand. That ruling determined that while XRP sales to institutional clients were indeed securities offerings, sales conducted through public exchanges did not qualify as such. It was a nuanced decision but widely seen as a partial win for the broader crypto industry, offering a level of regulatory clarity that had long been lacking.
https://thecurrencyanalytics.com/altcoins/sec-and-ripple-drop-appeals-ending-xrp-case-and-cementing-2023-court-ruling-189616

[zasad@]

The head of the US SEC writes about the court case against Ripple:
https://x.com/SECPaulSAtkins/status/1954972386358362158
"Commissioner Peirce is right. With this chapter closed, we now have an opportunity to shift our energy from the courtroom to the policy drafting table. Our focus should be on building a clear regulatory framework that fosters innovation while protecting investors. #ProjectCrypto"