On a rather unremarkable Tuesday, Ripple, in a fit of what can only be described as audacious optimism, dispatched a letter to Judge Torres. The purpose? To elucidate the pressing necessity of an indicative ruling motion, which they claim is essential for a complete resolution of the Ripple vs SEC saga. Naturally, they provided three compelling reasons—because who doesn’t love a good list?
Our dear lawyer, James K. Filan, took to the digital ether on June 17 to reveal that Ripple had filed a supplemental letter in support of their joint motion for this elusive indicative ruling. They even highlighted additional explanations, as if the judge were a particularly dim-witted student in need of extra tutoring on the matter of lifting the injunction from the final judgment. How generous of them!
Ripple, in a moment of clarity, assured everyone that they do not wish to vacate, amend, or modify the summary judgment order. No, no! That order will remain as binding as a particularly stubborn piece of gum on a shoe, serving as a useful reference for other courts. They merely seek to modify the relief granted in this Ripple vs SEC debacle by dissolving the injunction and adjusting the penalty. Simple enough, right?
#XRPCommunity #SECGov v. #Ripple #XRP @Ripple has filed a Supplemental Letter in support of the Motion for an Indicative Ruling.
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) June 17, 2025
The parties’ proposed resolution, they claim, will preserve the resources of the 2nd Circuit, thereby sparing the court from the drudgery of deciding appeals. It’s almost as if they’re doing the judicial system a favor—how noble! This would, in theory, bring the long-running XRP lawsuit to a close, much to the relief of anyone who has been following this soap opera.
In a final flourish, Ripple explained that this settlement would place them on fair and comparable ground with other industry participants whose cases were also dismissed. This comes at a time when the SEC is busy trying to regulate digital assets, presumably to bring some semblance of order to the chaos. Because nothing says “clarity” like a convoluted legal battle!
On June 12, Ripple and the SEC renewed their indicative ruling request to dissolve the injunction in the Final Judgment. They also proposed to release $50 million from the $125,035,150 civil penalty held in escrow, which sounds like a delightful sum to play with—if only it were theirs to keep!
As previously reported by The Crypto Times, the U.S. Securities and Exchange Commission (SEC) has filed a status report requesting the appeals court to hold the appeals in the Ripple vs SEC case. This is all in light of the pending motion for an indicative ruling before Judge Torres. One can only hope that the judge has a sense of humor about all this!
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2025-06-17 20:15