Ex-SEC Lawyer: Judge Torres Unlikely to Issue New XRP Ruling Soon
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Procedural Roadblock or Deeper Issue?
Last month, Judge Torres denied a joint motion from Ripple and the SEC to finalize a proposed settlement that would have reduced Ripple's penalty and lifted a prior injunction. While the court cited "procedural impropriety," an ex-SEC attorney, Marc Fagel, suggests the problem runs deeper. He noted on X (formerly Twitter) that it wasn't just "procedural inaccuracies," but a "significant substantive problem" with their approach. Judge Torres has effectively communicated that both parties need to meet a much "higher bar" to justify amending a final ruling in this landmark case.
Implications for Ripple and XRP
As a direct consequence of this rejection, Ripple's original $125 million fine remains in effect, and the existing injunction against certain XRP sales by Ripple stays active. This means the SEC's case against Ripple technically remains open, challenging both parties to present a more compelling legal argument if they wish to alter the previously established judgment. The judge's stance signals a reluctance to simply "rubber-stamp" any agreement without a thorough legal justification, emphasizing the court's role in interpreting securities laws for crypto.
The Path Forward for the Lawsuit
The legal battle, which has spanned years, continues to be a closely watched saga in the crypto world. Both Ripple and the SEC appear keen to resolve the matter, but Judge Torres' recent decision underscores that the path to a final resolution requires strict adherence to legal standards and a strong, well-supported argument for any modifications to prior rulings. The crypto community now awaits how both parties will address this heightened demand for justification in their future filings.