Court decision surprises Ripple and SEC: Request denied

The Federal Court for the Southern District of New York denied the request to lift the injunction imposed on Ripple. The request was a joint request from Ripple and the SEC.

Judge Analisa Torres, who announced the decision, stated that lifting the injunction against Ripple and significantly reducing the penalties is not in the public interest. Torres recalled the SEC's previous stance that Ripple could continue its violations, saying, "Although the conditions have not changed, the parties are requesting the removal of the permanent injunction and a 60% reduction in the fine, citing public interest as the reason."

Ripple and the SEC, in their joint application to the court, requested the lifting of the injunction, demanded that 50 million dollars of the 75 million dollar penalty be paid to the SEC, and requested that the remaining 25 million dollars be refunded to Ripple.

The process started in 2020

The legal battle between Ripple and the SEC began when the SEC filed a lawsuit against Ripple in 2020. The agency accused Ripple of conducting an unregistered securities sale of $1.3 billion through XRP. After approximately 4.5 years of litigation, a decision was reached last year, ruling that Ripple's public sales did not violate securities laws. However, it was determined that the sales made directly to institutional investors did violate the laws. As a result, Ripple was fined a total of $125 million.

Ripple CEO Brad Garlinghouse announced last March that the legal battle with the SEC had effectively come to an end and that the SEC had withdrawn its appeal. Recent developments have mainly focused on the imposed fine of 125 million dollars.

Published: June 26, 2025 19:28Last Updated: June 26, 2025 19:29