Ripple Labs Inc. and the U.S. Securities and Exchange Commission (SEC) have jointly submitted a motion requesting the presiding court review and modify the final judgment in their long-running legal dispute.
The motion seeks the dissolution of an injunction and the release of $50 million currently held in escrow from a $125 million civil penalty. The parties cite provisions under the Federal Rules of Civil Procedure allowing modifications due to ‘exceptional circumstances’.
According to the filing, this request reflects ongoing settlement negotiations between Ripple and the SEC. It also points to evolving stances within the broader cryptocurrency regulatory landscape as context for the proposed changes to the settlement terms.
This is not the first such request. Judge Analisa Torres previously denied a similar motion, signaling the high legal threshold required for reopening or modifying the case post-final judgment.
Legal observers remain skeptical about the motion’s prospects for success. Experts highlight judicial reluctance to revisit final judgments and the stringent requirements that must be met under the cited rules.
The outcome of this motion could have significant implications, potentially influencing future regulatory enforcement actions within the cryptocurrency industry and shaping how compliance agreements are structured and modified.