A joint request from the SEC and Ripple has been filed seeking to dissolve an existing injunction in their ongoing legal dispute. The proposal calls for $50 million of the $125 million civil penalty held in escrow to be released to the SEC, with the remaining $75 million going back to Ripple. This move represents a concerted effort by both parties to settle the long-standing case and avoid further legal battles through appeals.
However, this request has drawn skepticism from attorney Fred Rispoli, who doubts the strength of their arguments for dismissal. He points out that despite mentioning settlement and policy changes in the new filing, it lacks a direct acknowledgment of the SEC’s past failures in crypto regulation and Ripple’s own potential apology.
Despite the initial setback, Rispoli remains optimistic about the possibility of resolution. Even if the injunction remains in place, Ripple will continue to sell XRP to institutions, albeit with certain limitations compared to pre-2018 practices. The crypto world awaits Judge Torres’ decision on this latest development and its potential impact on the ongoing legal battle.