Source: James Filan“This settlement, alongside the programmatic disassembly of the SEC’s crypto enforcement program, does a tremendous disservice to the investing public and undermines the court’s role in interpreting our securities laws,” she said.“In the meantime, the settlement joins a line of dismissals that collectively erode the credibility of our lawyers in court who are being asked to take legal positions today contrary to the ones taken just months ago.”Under the Trump administration, the SEC has slowly been walking back its hardline stance toward crypto firms forged under former SEC Chair Gary Gensler’s reign, dismissing a growing number of enforcement actions against crypto firms.
Source: James FilanIf Torres provides an indicative ruling, the SEC and Ripple will ask the Second Circuit Court of Appeals for a limited remand back to Judge Torres, which, if granted, will result in another motion being filed for the agreed settlement, according to Filan.
The SEC and Ripple filed a joint settlement letter in a New York court asking for the August 2024 injunction against Ripple to be dissolved and $75 million of the $125 million in civil penalties held in escrow to be returned to the crypto firm, according to a May 8 statement from the SEC.
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Author / Journalist: Cointelegraph by Stephen Katte
The story "SEC’s Crenshaw slams Ripple settlement, warns of ‘regulatory vacuum’" has 535 words across 15 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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