FOX Reporter Reveals Why It’s Taking Longer for US SEC to Drop Ripple Case on XRP Sales – The Crypto Basic

Fox Business Journalist Terrett checks reason The US SEC will take time to withdraw the Ripple lawsuit over the company's XRP sales.

US Securities and Exchange Commission (SEC) I recently retreated The lawsuit against Coinbase confirmed the promised changes in its approach to code enforcement under its representative chair, Mark Uyeda.

However, the agency is not I've made a decision for According to Fox Business Reporter Eleanor Terrett, the ongoing lawsuit against Ripple since December 2020 is due to the procedural complexity of the case.

Terret, who has closely followed regulatory measures in the crypto sector, has responded to numerous inquiries. Ripple case After the SEC dropped the lawsuit against Coinbase.

Ripple cases are more procedurally complicated

Citing commentary from community expert Shelley, she has issued a ruling requiring Judge Analisa Torres to pay a $125 million fine, so Ripple's legal battle is It was explained differently. In particular, this court order adds another layer of legal procedures before a resolution is reached.

🚨new: On @rippleas @cherreempress21 Please note, it is more procedurally complicated @coinbase Because they have already received orders from Judge Torres at the district level to pay a $125 million penalty.

Torres retains jurisdiction over the litigation of the… https://t.co/kekimvrp5j pic.twitter.com/qqbswpya4p

– Eleanorterrett (@Eleanorterrett) February 21, 2025

Judge Torres will remain jurisdiction over a one-year lawsuit until August 7, 2025, ensuring Ripple meets the penalty terms. Even if it's a second I'll dismiss it The Office of Appeals in the Second Circuit should determine the appropriate approach of the District Court regarding penalties.

Due to context, this process may involve attempting to negotiate a reduction or dismiss a fine. Both require the approval of Judge Torres. “It's more procedurally complicated than Coinbase.” Terrett pointed out.

Sherry I had it It's attracting attention That the SEC cannot simply abandon a case without addressing existing penalties. This contrasts with Coinbase's situation where no final court ruling has been made, making it easier for the SEC to remove cases.

How about a simple settlement?

Crypto Trader Jesse responded to Terrett and suggested that a settlement between the SEC and Ripple could end the case. He argued that if the current administration really wants to end the SEC's aggressive stance on Crypto, it should take action even in the case of ripples.

Terret Confirmed Although settlements were theoretically possible, existing district court decisions made it a more complicated process compared to Coinbase's case. The involvement of final judgment is meaningful There is Additional legal hurdles to clear before they can Resolution is reached.

Meanwhile, Jeremy Hogan, a well-known legal expert at Procrypt, explained the situation. In the Philosopher. He compared Coinbase's case with a short-term relationship and quickly ended, but the Ripple case appeared to be a long-term case with a deeper commitment like a baby.

Coinbase and Sec broke up after several dates. Ripple and SEC move together and give birth to a baby along the way. The division just takes time.

– Jeremy Hogan (@astoryjeremy1) February 21, 2025

Followers then asked Hogan how long the case would take. Hogan estimated that Although they managed to close between April and May, he acknowledged that unexpected developments could have an impact on the timeline.

To be fair to the crypto industry, it mentions that new SEC leadership has removed or stopped other cases In the same way. A week ago Sec Froze Cases of vinanence. Agents too I retreated Continuing appeals to the judgment, except for control over the definition protocol.