A Crypto-Scriptical Commissioner at the American Securities and Exchange Commission has exploded his agency over his settlement letter that can eventually end the Ripple Legal Saga.
SEC and Ripple filed a joint settlement letter in a New York court, dissolving the August 2024 prohibition against Ripple and returning $ 75 million to $ 125 million to Crypto firm in civil punishment held in Escrow.
SEC Commissioner Caroline Krenchs blown the pending deal in the May 8 statement, saying that it would damage the capacity of regulators to keep the crypto firms in line and weaken the court’s decision.
“This agreement, with the programtic decisam of SEC’s crypto enforcement program, makes a tremendous dissatisfaction for the public and reduces the court’s role in explaining our securities laws,” he said.
“Meanwhile, settlement is included in a line of dismissal that collectively destroys the credibility of our lawyers in the court, which is being asked to take a legal position unlike those taken a few months ago.”
Under the Trump administration, the SEC is slowly moving towards crypto firms, moving towards crypto firms under crypto firms during the reign of crypto firms, rejecting the increasing number against crypto firms.
At the same time, Crench argues that if judges accept the torres disposal, this “investor will already win security” and will leave a “regulator vacuum”, until the Crypto Task Force excludes a regulatory structure.
“Settlement is not in the best interest of investors and markets that our agency is assigned with service and security. This makes more questions than the answer.”
In August last year, a judge ordered the firm’s XRP (XRP) tokens to institutional investors to be sold on the XRP (XRP) tokens of the firm covered by securities laws when they were ruling Ripple to pay $ 125 million in the penalty.
What’s next for the ripple case? It’s not over yet
While SEC and Ripple have agreed to a disposal, it is still not a deal, according to former-union prosecutor James Play, because there are several steps before the long-running legal saga ends.
For a beginning, Judge Torres needs to be given a signal. If he agrees to the settlement letter, Philan said in an analysis on X on 8 May.
If the Torace provides an indicator decision, the SEC and Ripple will ask Judge Torres to another Circuit Court of Appeals for a limited remand, which, if provided, will, according to the Philate,, another proposal will be filed for the agreed settlement.
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He said, “Following the prohibition and distributed amount distributed, the SEC and the Ripple appeal will ask the court to dismiss the SEC’s appeal and the cross-plan of the Ripple. Then it will end,” he said.
The SEC initially initiated legal action against Ripple Labs in December 2020, illegally accused of selling its tokens as an unregistered security.
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