Ripple vs SEC: Judge Torres Expected to Dismiss SEC’s $2 Billion Fine

MetaLawMan doubts the SEC v iFresh case as a precedent for financial harm because the judge labeled it “NOT FOR ELECTRONIC OR PRINT PUBLICATION,” indicating its limited authority. Murphy says Judge Torres may reject the SEC’s motion owing to poor grounds.

In response, lawyer Jeremy Hogan emphasizes the importance of seeking permission from the appellate court before citing such cases, expressing hope that the judge will recognize this oversight.

SEC’s Stance on disgorgement

The SEC justified disgorgement by citing Ripple’s alleged securities law violations, mostly linked to the selling of unregistered XRP tokens. The SEC claims an injunction is needed to avoid future violations because Ripple plans to distribute more unregistered crypto assets under its new corporate structure.

Latest Update in Ripple vs SEC & Price Impact

Crypto influencer CryptoGeek suggests that the XRP lawsuit could be nearing its end, as a potential Ripple settlement could happen soon, with the judge releasing the final brief by May 20th. Plus, the XRP Ledger (XRPL) is poised to handle a significant $1 trillion trading volume in decentralized finance (DeFi), with the CTF token being the only XRP Ledger DeFi token in the top 10. Even though it is just a fraction of XRP’s market share, the CTF token could experience a substantial surge, potentially skyrocketing from $0.87 to $1937 effortlessly.