A federal judge in the SDNY recently declined to approve a settlement proposed by the SEC and Ripple Labs that would have lifted a court-ordered injunction against Ripple and reduced Ripple’s penalty from $125 million to $50 million.
Our partner and former SDNY prosecutor Josh Naftalis shared his thoughts with Bloomberg Law. The order is important “in the world of the crypto reboot,” he said. The court “declined to rubber-stamp the SEC’s fundamental change in position as to whether XRP is a security.”
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