Ripple’s Legal Tango: Is the SEC Just a Bystander? 🤔💼

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Ah, the grand theater of law! Here we find the illustrious James “MetaLawMan” Murphy, a sage of the legal realm, spinning a yarn about the curious case of Ripple and the SEC. He posits that the delay in resolving this case is not merely a product of bureaucratic sluggishness, but rather a vigorous dance of negotiations, where Ripple is attempting to rewrite the script handed down by Judge Torres. One can almost hear the dramatic music playing in the background! 🎶

Ripple, Not SEC, Might Be Stalling Case Resolution

Murphy, with the flair of a seasoned storyteller, reveals that while Judge Torres’ ruling was a boon for XRP holders—like a warm loaf of bread on a cold winter’s day—it also contained thorns that could prick Ripple’s ambitions. “The Torres decision was unquestionably GREAT for XRP holders, BUT the finding of securities law violations and the injunction with attendant ‘bad boy’ provisions are not so great for Ripple,” he quipped, as if he were narrating a tragicomedy. 😂

He speculates further, suggesting that if Ripple dreams of a future where they can offer exempt securities or even an IPO, the current judgment looms like a dark cloud over their sunny prospects. “I believe the SEC would have accepted a settlement—where both sides dismiss their appeals and the SEC takes the $125 million penalty—in a heartbeat,” he mused, as if pondering the mysteries of the universe. It seems Ripple is angling for a sweeter deal, perhaps a slice of pie instead of a mere crumb! 🥧

Adding to this legal tapestry, pro-XRP lawyer Jeremy Hogan dives into the murky waters of dissolving the injunction. He likens the court’s order to a restraining order in a tumultuous romance, where one party cannot simply ignore the court’s decree. “Ripple would rather not have the injunction at all,” he remarked, drawing chuckles from the audience. After all, who wants to be shackled by legal chains when one could be frolicking in the fields of commerce? 🌼

Hogan elaborates on the procedural labyrinth that both Ripple and the SEC must navigate to modify the existing court order. He invokes the Federal Rule 60, which governs “relief from a judgment,” as if it were a magic spell that could lift the burdens of the past. “The court based its decision on the Howey test, not on the SEC’s rule changes, and the SEC cannot ‘Trump’ US Supreme Court law,” he declared, emphasizing the unyielding nature of legal precedent. It’s a tough crowd, indeed! 🎭

To escape this legal quagmire, Ripple must first charm the SEC into approving a meticulously crafted motion to dissolve the injunction. Then, like a well-rehearsed play, both parties must agree to dismiss their appeals, and the trial court must play its part favorably. Hogan suggests that “this is why I think the case doesn’t resolve until April-May,” leaving us all on the edge of our seats, eagerly awaiting the next act in this riveting drama. 📅

At press time, XRP traded at $

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2025-03-03 14:13