U.S. Court, Ripple-SEC Agreement Rejected Again...“Public Judgment Comes First”

An american court once again dismissed the settlement jointly submitted by Ripple and the Us Securities And Exchange Commission (SEC). Judge Analisa Torres of the Southern District Of New York made it clear that the settlement between the parties cannot replace the court's official ruling, putting a stop to both parties' attempts.

According to Eleanor Terrett, host of Crypto In America on the 25th (local time), Ripple and the SEC submitted an agreement to the court, which included a reduction of the fine (from $125 million to $50 million) and lifting the ban on XRP sales, and requested it to be approved in the form of an 'Indicative ruling'. This is a procedure to confirm the court's intention in advance before changing the formal ruling.

However, Judge Torres clarified in the decision that "an agreement between the parties cannot take precedence over a public judgment," and "to conclude a case without a formal court ruling, the appeal must be withdrawn or an objection to the existing ruling must be made."

This dismissal has increased the likelihood that the Ripple-SEC lawsuit will proceed to a formal process again. Although both sides wanted to conclude the legal battle early, the court's intervention is expected to act as a variable in future developments.