A questionable delegate was criticized by the US Securities and Stock Exchange and its agency due to the settlement letter, which can finally end the Ripple legal epic.
SEC and Ripple made a joint settlement letter in the New York Court, asking to resolve the Ripple against Ripple against Ripple and 75 million dollars from 125 million dollars in civil sanctions It was held in the guarantee to be returned to the encryption company, According to To the May 8 statement of the Supreme Education Council.
SEC Caroline Crinko burst The attached deal in a statement of May 8, saying that it will harm the ability of the organizers to preserve the encryption companies in the line and undermine the court ruling.
She said: “This settlement, in addition to the programmatic dismantling of the SEC encryption enforcement program, is a huge cancellation of the invested audience and undermines the court’s role in explaining our securities laws.”
“Meanwhile, the settlement joins a line of chapter that eats together the credibility of our lawyers in the court who are required to take legal positions today, unlike those taken only months ago.”
Under the Trump administration, the Supreme Education Council was slowly proceeding to its hardline position towards the forged encryption companies President SEC Gary Ginsler to rule , An increasing number of enforcement procedures rejected Against encryption companies.
At the same time, Crenshaw argues that if Judge Torres accepts the settlement, this will erase “the protection of the investor that we have already won” and left a “organizational vacuum”, even Hummers Crypting Business Squad Outside an organizational framework.
“The settlement is not in the interest of investors and markets that are assigned our agency to serve and protect. It creates more questions than answers.”
In August last year, a judge was ordered Culture to pay 125 million dollars of penalties After the company XRP of the company (XrpThe distinctive symbol is covered with securities laws when selling to institutional investors.
What is the following of the ripples? It is not over yet
Although SEC and Ripple have agreed to a settlement, it is still not an accomplished deal Long -term legal epic It can conclude.
For a start, Judge Torres needs to submit an indication ruling if you agree to the settlement letter, Villa He said In the May 8 analysis on X.
If Torres issued an indication ruling, SEC and Ripple will require the Court of Appeal in the second circle of limited pre -trial detention to Judge Torres, who, if granted, will lead to another request for the agreed settlement, according to Villaan.
Related to: Bitnomial falls the lawsuit before the launch of XRP futures in the United States
He said: “After dissolving the Zargi and distributing money, SEC and Ripple will ask the Court of Appeal to refuse to appeal the Supreme Education and Intersection Council. Then the matter ended.”
SEC initially launched legal procedures Against Ripple Labs in December 2020Accusing the illegal symbol sale company as unregistered security.
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