U.S. Court rejects Ripple-SEC settlement motion as improper

Judge Analisa Torres has denied a joint motion by Ripple and the SEC for an indicative ruling related to their proposed settlement, calling it procedurally improper. The SEC had sought to reduce Ripple’s fine from $125 million to $50 million and lift restrictions on XRP sales. The motion was filed on May 9, following a 2023 ruling that found XRP sales to institutional investors violated securities laws, while programmatic sales did not, former federal prosecutor James K. Filan reported on X.