Ripple, SEC, and That Never-Ending Courtroom Circus – What’s Going On?

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Ripple, SEC, and That Never-Ending Courtroom Circus – What’s Going On?

Well, folks, it seems like the legal wrangling between the SEC and Ripple just took another twist, faster than a cat on a hot tin roof. Judge Analisa Torres, who’s got more patience than a saint with a headache, went and refused both sides’ pleas for an “indicative ruling.” She said if she were to send it back to her court, she’d still shut the door because it’s “procedurally improper,” whatever that means. Probably something fancy lawyers use to sound important.

Now, some folks in the crowd are saying the SEC ain’t got a snowball’s chance in hell unless they admit they were wrong about XRP. Lawyer John Deaton, that sharp fellow, made it clear as day: No admission, no reversal. The judge already decided — XRP isn’t a security when Joe Public buys it. So, there.

But hold onto your hats, because legal eagle Marc Fagel comes along and says, “Hold on just a minute.” He points out that while the court did say Ripple’s sales of XRP to everyday folks weren’t securities, it also found Ripple guilty of unregistered sales to big money folks — to the tune of $125 million. Yep, that’s a hefty slap, and it’s got the SEC scratching their heads.

Fagel explains that reversing course now would be like trying to undo a knot with a chainsaw — tricky, and bound to backfire unless they’ve got some real good reason besides politics. The SEC would have to argue that the court’s earlier ruling was plain wrong, which is easier said than done.

As Fagel puts it, “Ripple broke the law, got fined, and now they have to explain to the court why that was all a mistake.” And it’s a downright humdinger of a pickle.

Meanwhile, Ripple’s Legal Chief Stuart Alderoty chirped in, saying that nothing in this latest ruling messes with their previous wins — especially the fact that XRP isn’t a security. He kindly explained that the judge was fussing over procedural weeds and not about whether Ripple’s sales were legal or not. Both sides still want to settle this thing once and for all, and plan to hustle back to court someday soon.

For now, the parties seem willing to dance around this legal barnyard, but if it drags on much longer, the SEC might just lose some of its shine — especially in the eyes of the crypto folks, who are getting mighty impatient and skeptical, like a mule in a rainstorm.

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2025-05-19 10:11