coinpedia 2025-06-19 02:43:28

XRP Lawsuit: Ex-SEC Official Says Judge Torres Already Ended the Ripple Case

The post XRP Lawsuit: Ex-SEC Official Says Judge Torres Already Ended the Ripple Case appeared first on Coinpedia Fintech News The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) continues to drag on, leaving many in the XRP community frustrated. Recently, Ripple filed a Supplemental Letter in support of its Motion for an Indicative Ruling, asking Judge Analisa Torres to reconsider parts of her earlier decision. In response, both Ripple and the SEC have requested that the Second Circuit Court of Appeals keep the appeals on hold for now. The SEC has been asked to file a status report by August 15, 2025. On social media, XRP supporters are openly expressing their disappointment. Many feel the lawsuit should have ended long ago, criticizing Judge Torres for not closing the case when she had the opportunity. However, former SEC official Marc Fagel stepped in to clarify the situation. He explained that Judge Torres already ruled last year that Ripple violated securities laws, ordering the company to pay a $125 million penalty and placing a permanent injunction against it. But since both Ripple and the SEC filed appeals, it has kept the case alive. “She did end it, ruling that Ripple violated the law and should pay a $125m penalty and be permanently enjoined. But then both parties appealed, and now they are trying to have her change her remedies order. That’s on Ripple/SEC, not her,” he wrote. Fagel explained that no one is purposely delaying the process. He said that there’s a motion pending before the court, and it takes time to write an opinion. The expert also reminded the public that this is a rare and complicated situation — possibly the first time the SEC, under new leadership, has tried to undo a court win. She did end it, ruling that Ripple violated the law and should pay a $125m penalty and be permanently enjoined. But then both parties appealed, and now they are trying to have her change her remedies order. That's on Ripple/SEC, not her. — Marc Fagel (@Marc_Fagel) June 18, 2025 As for what happens next, it’s hard to predict. If Judge Torres denies Ripple’s motion, the company will need to decide whether to move forward with its appeal or accept the ruling.

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