Article Summary
Judge Analisa Torres has ruled that the joint request by the U.S. Securities and Exchange Commission (SEC) and Ripple to approve a settlement is “procedurally improper,” keeping the legal dispute alive. The decision comes after Ripple and the SEC submitted a proposed settlement agreement to end the SEC’s civil enforcement action against the crypto firm. Ripple has been expanding its operations, particularly in the Middle East, while the SEC is signaling a shift towards a more crypto-friendly regulatory framework under the current administration.
What This Means for You
- Understand the current status of the SEC vs. Ripple legal dispute and its potential implications on the crypto industry regulatory landscape.
- Stay informed about changes in the SEC’s regulatory approach to digital assets and potential effects on crypto-related businesses.
- Consider the possible impact of this legal dispute on Ripple’s future developments and operations.
- Keep an eye on the ongoing trend of regulatory shifts in the crypto industry.
Original Post
Judge Analisa Torres, in a recent court filing, deemed the joint request by the U.S. Securities and Exchange Commission (SEC) and Ripple to approve a settlement as “procedurally improper.” This decision prolongs the ongoing legal dispute between the two parties.
The ruling was shared in a May 15 filing submitted to the U.S. District Court for the Southern District of New York.
Judge Declares Crypto Settlement Request Procedurally Improper
The decision comes shortly after Ripple and the SEC submitted a proposed settlement agreement, which intended to end the SEC’s civil enforcement action against the crypto firm.
“By styling their motion as one for “settlement approval,” the parties fail to address the heavy burden they must overcome to vacate the injunction and substantially reduce the Civil Penalty,” Judge Torres wrote.
In a statement on the SEC’s website, the parties declared that they would seek a limited remand to the district court, and subsequent motions would dismiss their respective appeals. This action would be taken in case Torres rejected their initial request.
In March 2025, Ripple and the SEC reached a settlement agreement where Ripple agreed to pay $50 million of the previously imposed fine, while the remaining $75 million would be returned to the company.
Ripple Expands its Global Operations
While the court’s decision drew attention, Ripple has continued expanding its operations, specifically in the Middle East.
On Monday, the company announced that Zand Bank and Mamo will integrate Ripple Payments, its blockchain-powered cross-border payments platform.
Earlier in May, Wellgistics announced plans to integrate XRP into its payment and treasury operations, becoming one of the first publicly traded companies to use XRP for business operations.
SEC Shifts its Stance on Cryptocurrency
The court’s pushback comes as the SEC, under the current administration of President Donald Trump, signals a move towards a more crypto-friendly regulatory framework for digital assets.
Trump’s pro-crypto stance in his campaign led to the appointment of former SEC Commissioner Paul Atkins to lead the agency.
Atkins is expected to regulate the blockchain sector more accommodatingly, contrasting with his predecessor, Gary Gensler, who was known for his aggressive enforcement-driven regulatory approach.
The agency has:
Dropped cases against Coinbase
And Cumberland DRW
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