After the legal battle between Coinbase and the U.S. Securities and Exchange Commission (SEC) concluded without any penalties being imposed on the exchange, attention has turned to the ongoing lawsuit between Ripple and the SEC.
Crypto journalist Eleanor Terrett said that Ripple’s case is complicated by the Coinbase case. Terrett noted that Ripple was ordered to pay a $125 million fine as ordered by Judge Analisa Torres at the district court level.
Under the final order, Judge Torres will retain jurisdiction over the case for one year, until August 7, 2025, to ensure that the terms of the order are met. This adds an additional layer of complexity to the case, as the SEC may need to reevaluate its approach going forward.
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While the SEC could choose to drop its appeal to the Second Circuit, it will also need to determine how it will handle the district court’s sentencing decision, which could include seeking a settlement to reduce or eliminate the penalty, which would require Judge Torres’ approval.
Terrett also quoted a legal source as saying, “We are in uncharted territory right now.” Given the current ruling, the case presents unique challenges that make its outcome uncertain. However, one possible scenario could involve both sides negotiating a reduced sentence.
According to analysts, the likelihood of the case being heard before a higher bench has now significantly decreased.
*This is not investment advice.
Continue Reading: Will the Case Between Ripple (XRP ($2.56)) and the SEC End as Quickly and Without Punishment as Coinbase vs. SEC?
