Ripple has formally requested Judge Analisa Torres for an indicative ruling to potentially modify the existing injunction and adjust civil penalties in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The motion aims to expedite case resolution while preserving the court’s summary judgment decision.
Legal filings reveal Ripple specifically seeks to dissolve the injunction and recalibrate penalties without challenging the core judgment. This joint motion with the SEC intends to prevent prolonged appeals and remands, enhancing judicial efficiency. As part of the proposal, Ripple suggests releasing $50 million from escrowed penalty funds while adjusting remaining amounts to achieve settlement balance.
Noted attorney James K. Filan indicates that lifting the injunction would normalize Ripple’s regulatory position relative to industry peers. The SEC’s collaborative stance reflects pragmatic dispute resolution amid evolving digital asset regulations, potentially setting precedents for similar cases.