Act I : The AI Prophecyの‌価格ACT

To get the GENIUS Act through the full Senate is quite an achievement. @SolanaFloor discusses the latest on stablecoin legislation and what's next.

A federal judge has rejected Ripple Labs and the U.S. Securities and Exchange Commission’s joint motion to set aside the $125 million penalty and final ruling on institutional XRP sales, despite both parties having reached a settlement. U.S. District Judge Analisa Torres also denied the motion seeking to lift the permanent injunction on Ripple’s institutional XRP ( XRP ) sales, which the court imposed in 2024, according to Reuters . The court ruled that Ripple and the SEC cannot use their settlement agreement to reverse the order imposing a permanent injunction against the company’s institutional XRP sales. The Ripple/SEC motion marks the second attempt before the court to bring a legal close to the long-running case. In addition to the prohibition on XRP sales to institutional investors, Ripple and the SEC had asked the court to approve a settlement in which the SEC would retain $50 million and return $75 million of the $125 million civil penalty. Notably, both parties also asked the court to pause their appeal of the final judgment pending the outcome of this motion. In 2023, Judge Torres ruled that XRP sold on exchanges did not violate securities laws—meaning the cryptocurrency is not a security. However, she found that institutional sales did violate securities laws, leading to the injunction and civil penalty imposed in August 2024. Ripple and the SEC appealed the ruling, with a settlement reached in March 2025 that could only proceed if the judge agreed to set aside her earlier decision. Judge Torres rejected the latest motion, stating that it did not meet the “exceptional circumstances” required for a court to modify or vacate a final judgment. A similar motion filed on June 12, 2025, requesting an “indicative ruling,” also failed to persuade the court. Arguments that the SEC has dismissed similar or related crypto cases also do not apply to the Ripple versus SEC case , as those other lawsuits did not go all the way to a final ruling. “The parties do not have the authority to agree not to be bound by a court’s final judgment that a party violated an Act of Congress in such a manner that a permanent injunction and a civil penalty were necessary to prevent that party from violating the law again,” the judge wrote. Under the ruling, Ripple and the SEC may now choose to either withdraw their appeal or proceed with it and challenge the injunction. Stuart Alderoty, chief legal officer at Ripple, has said the company is yet to decide its next steps with regard to the matter. “With this, the ball is back in our court. The Court gave us two options: dismiss our appeal challenging the finding on historic institutional sales—or press forward with the appeal. Stay tuned. Either way, XRP’s legal status as not a security remains unchanged,” he posted on X.

9/ First step - @SECGov should provide guidance that state-chartered trust companies and similar institutions qualify as “banks” for purposes of Section 17(f) of the 1940 Act.

13/ We also urge the SEC to provide guidance that “custody” under the 1940 Act for crypto assets means possession of the private keys associated with such assets.

On June 26, 2025, U.S. District Judge Analisa Torres rejected a joint motion from Ripple Labs and the Securities and Exchange Commission (SEC) that sought an “indicative ruling” to dissolve Ripple’s permanent injunction and cut its civil penalty. The court filing, Document 989 in case 1:20-cv-10832, confirmed that the request was denied in full. The decision halts an agreement reached in May 2025 between Ripple and the SEC, which aimed to reduce Ripple’s $125 million civil penalty by 60% and end litigation without further appeal. The deal depended on Judge Torres signaling she would vacate the existing judgment if the parties returned to court. With the court’s refusal, Ripple remains barred from institutional XRP sales. The 2023 summary judgment found that Ripple’s direct XRP sales to institutional investors violated the Securities Act, though it ruled that programmatic exchange sales did not. Related : Ripple Co-Founder Arthur Britto Ends 14-Year Silence With Cryptic Post; XRP Price Reacts The injunction remains active, and Ripple must still comply with the existing terms. The penalty, which the SEC originally estimated could have reached $1 billion, was already reduced in 2024. But the new motion sought further relief under Rule 60(b), which allows post-judgment changes in exceptional cases. Judge Torres ruled that the parties failed to meet the narrow legal standard required to modify the judgment. This ruling reopens the possibility of renewed appeals. Ripple and the SEC had paused their appeals in the Second Circuit, awaiting the court’s decision. With the indicative ruling denied, both sides must now decide whether to resume litigation at the appellate level or submit a new settlement proposal. Ripple’s Chief Legal Officer Stuart Alderoty commented on X that the company will either dismiss the appeal or move forward, but that XRP’s non-security classification for exchange sales remains unchanged. Related XRP Beat Ethereum in a Way No One Saw Coming The court directed the SEC to file a status update by August 15, 2025. Ripple may also respond or initiate a separate motion. If unresolved, the dispute could return to the Second Circuit and extend the legal process into 2026. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.