The legal director of Ripple said the rejection of the XRP agreement proposed by the US Court’s Securities and Exchange Commission (SEC) is not a threat to Ripple’s victory.
According to the submission on May 15, the US District Court Judge in the southern New York District Court rejected the co -Ripple -SEC movement in the southern New York Court.
Stuart Alderoty, the chief lawyer of Ripple, said that rejection does not overturn the company’s victory in the case. The company announced the end of the lawsuit on March 19.
Alderoty emphasized that the latest court’s decision does not change the fact that XRP (XRP) is not security, and rejections are related to the procedural concern of “dismissal of Ripple’s crossbells.”
Why did the court refused to decide?
According to the court document, Torres refused to initiate “inappropriate procedural” because it did not submit the correct procedural motion to support the agreement that the SEC and Ripple were proposed.
The judge wrote, “By styling one consent for ‘settlement approval’, the parties do not solve the big burden to overcome to empty the ban and greatly reduce civil fines.”
The SEC and Ripple agreed to lower the court’s $ 125 million before Ripple CEO Brad Garlinghouse announced the end of the case. After that, Alderoty revealed that the SEC will maintain $ 125 million of $ 125 million.
The court document said, “The parties did not try to meet the burden here. Their request did not even mention the rules,” the court document said.
The community requests an explanation
Alderoty did not provide details on the nature of the court’s procedural concern, but because Ripple and the SEC guaranteed to the public that they “completely agree to solve the case,” many people in the community expressed their dissatisfaction with the lack of Ripple’s details.
“First, in a recent post about this case, you said you won’t make an X post anymore because the case is closed.
An XRP observer wrote on X threads.
relevant: Ripple has $ 25 million in US school non -profit organizations.
“He and Brad said that the incident was over, but let’s remember that we still don’t deceive us.”
The news reported shortly after US President Donald Trump suggested that the XRP token would be part of his plan for the national Cryptocurrency protection area by the remnant connection lobbyist.
Many people in the BTC (Bitcoin) community are rippling to defend the multi -coin strategic protection area instead of the Bitcoin -only reserve.
magazine: Risk signs of Bitcoin are abandoned by the institution: Sky Wee