SEC official challenges Ripple settlement terms in court filing

By: thepaypers|2025/05/12 19:00:13
0
Share
copy
According to Yahoo, a senior SEC official has publicly objected to the proposed settlement terms, raising concerns about the precedent it could set for future enforcement in the digital asset sector. The settlement proposal, submitted on 8 April 2025 to the US District Court, outlined that Ripple would pay USD 50 million to the SEC, while approximately USD 75 million held in escrow would be returned to the company. The agreement, which still awaits judicial approval, was seen as a potential end to a legal process that began in 2020. Internal SEC criticism and concerns over regulatory messaging On 8 May 2025, a dissenting statement was submitted to Judge Analisa Torres by an SEC commissioner, who argued that the deal could be interpreted as weakening the court's authority. According to the filing, the official warned that the proposed terms may encourage crypto firms to downplay the risk of regulatory penalties. Specifically, the commissioner pointed to the decision not to impose additional fines, suggesting it could lead market participants to believe that violations of securities laws may go largely unpunished. The legal dispute originated in 2020 when the SEC accused Ripple of conducting unregistered securities sales through its XRP token. A partial ruling later found that Ripple had breached securities laws in transactions involving institutional investors, although sales on secondary markets such as exchanges were not deemed violations. The court imposed a USD 125 million penalty and ordered Ripple to cease any further unregistered securities offerings. Meanwhile, the SEC continues its efforts to shape a dedicated regulatory framework for digital assets. Though various agency representatives have pushed for clearer rules, a comprehensive regime remains undeveloped.

You may also like

Mastercard Launches Agent Pay for AI, Plans to Record AI Agent Payment Authorizations on Polygon

Mastercard launched Agent Pay for AI, a new payment protocol designed to help AI agents make small payments such as pay-per-use access to data and APIs. The system plans to record human-granted AI agent permissions on Polygon, focusing on verifiable authorization, identity, and payment controls.

Curve Deploys Llamalend v2 on Optimism With 250,000 OP Incentives

Curve launched Llamalend v2 on Optimism with 250,000 OP incentives from the Optimism Foundation. The upgrade expands Llamalend beyond its earlier crvUSD-focused model, adding broader collateral support, LlamaRisk market reviews, and the ability to use Curve LP tokens as collateral.

Raydium Old Liquidity Pool Reportedly Exploited, With $1.34 Million Moved to Ethereum and Tornado Cash

An old Raydium liquidity pool was reportedly exploited for around $1.34 million in USDC, RAY, and wSOL, with the stolen funds bridged to Ethereum and deposited into Tornado Cash. The incident highlights the tail risks of legacy DeFi pools, old contracts, and cross-chain fund laundering paths.

Kalshi Executive Challenges “SBF Backed AI Unicorns” Narrative, Says Leopold Aschenbrenner Was Key Figure

Kalshi executive John Wang questioned the “SBF backed AI unicorns” narrative, saying Leopold Aschenbrenner was the key figure behind major AI investment decisions.

Pantera Capital Partner: How Tokenization is Restructuring the Private Equity and Early Investment Ecosystem?

Top tech companies are going public later and later, leaving retail investors shut out during the high growth period. Can tokenization give ordinary people back this entry ticket?

New York Proposes Stricter Stablecoin Issuer Rules Aligned With Federal GENIUS Act

NYDFS proposed stricter stablecoin issuer rules aligned with the GENIUS Act, covering reserves, custody, redemption timelines, audits, and capital buffers.

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com