“In a five-Page ruling lingyed thursday, District Judge Anaalisa Torres Bristled at the Parties’ Request She Disissolve A Permanent Injunction Ordering Ripple to Obey The LAW.”, – WRITE: www.coindesk.com
IT IS The PROPED REMOVAL OF THE CERMANENT INJUNCTION, AND NOT The $ 50 MILLION CIVLION PENALTY – Discounted from the Original Analisa Torres of the Southern District of New York (sdny), Who Wrote in Her Thursday ruling that a permanent injunction against Further violations of federal. “Warranted Because of the Enormous Sums of Money Ripple Made in Violing The Law and Ripple’s Incentives to Continue Doing So.”
“Indeed, if the Court Should not be concerned about ripple violating the law, who do the parties want to eliminate the injunction that Tells Ripple, ‘Follow The Law’ ?,”. ”Torres. “WHEN THE COURT IMPOSED THE INJUNCTION, IT DID SO Because It Found a ‘Reasonable Probability’ That Ripple Wulder Violating Federal Securities Laws. This.
The request comes amid Sweeping Changes at the Sec Following the Election of US President Donald Trump in January and the Subsequent Department of Former Sec Chair Gary Gensler. Under the Sec’s New Leadership, The Regulator Has Adepted A More Crypto-Friendly Regulatory Posture, Creating A Crypto Task Force Spearheaded by Commissioner Inter. Against Crypto Companies. However, As Torres Pointed Out in Her Ruling, MOST OF Those Cases Were Dismissed by the Sec “Before a Court Found A Violation of Federal Securities Laws.”
“Regardless of Leadership Changes, The Sec Has Avoided Wipsawing Between Arguments in Ongoing Litigation In Order to Protect the Agency’s Credibality,“ SAID CORY FRAYER, DIRECTER Federation of America. “In Granting Favors to Crypto Companies, Sec Leadership Has Chosen to Tarnish A 90 Year Reputation The Agency Careful Built.”
This is the Sec’s Second Request for An Indicative Ruling – Essentally, A Preview of What A Lower Court Will Do If A Higher Court Sends The Case Back Down to the Lower Court. In May, she Slapped Down The FIRST SUCH ATTEMPT, CITING BOTH JURISDICDICATIONAL AND PRCEDUral Flaws. Earlier this month, the parties TRIED AGAIN, FILING A NEW, Expanded Request with The Court Arguing that “Exception Circumstans” Warranted The Modification of Torres’ Final Judgement.
Torres Was Completely Unmoved by Sec and Ripple’s Arguments, Writing: “The Court Respects the Freedom of Parties to Amicably Resolve their DisPUTES. IT IS ALTERA Ane, Like, Like have discREnt Manner that a permanent injunction and a civil penalty were necessary to prevent that party from violating the law again. justice.
If the parties “Genuinely Wish to End this Litigation Today,” Torres Wrote, They Two Two Other Choices: They Chan Eithdraw Their Ongoing Apps in the Case, Orhy Can Chan.
“Neither Option Involves Require this Court to Absolve Ripple of Its Obligations Under The Law,” Torres Said.
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