New York Judge Once Again Rejects Settlement Request from SEC and Ripple

BlockBeats News, June 27, US Southern District of New York Federal Judge Analisa Torres has rejected the SEC's and Ripple's settlement proposal for the second time. The proposal aimed to reduce the fine to $50 million and lift the permanent injunction, but the judge believes that Ripple still has the potential to violate the law again, so the injunction must be maintained.

Southern District of New York Judge Analisa Torres believes that the key point lies in the proposed lifting of the permanent injunction rather than the $50 million civil fine (reduced from the $125 million initially imposed by the court last year). In her ruling on Thursday, she wrote that, as the SEC had suggested at the time, the permanent injunction prohibits further violations of federal securities laws, "because Ripple has earned huge sums of money in the process of violation, and Ripple has the motive to continue to violate the law, so it is necessary to issue this injunction."