New York judge again rejects SEC's request for settlement with Ripple
Internet reported that U.S. Federal Judge for the Southern District of New York Analisa Torres rejected the SEC's request for a settlement with Ripple for the second time. The request seeks to reduce the fine to $50 million and revoke the permanent injunction, but the judge believes that Ripple may still break the law again and the injunction must be maintained. Analisa Torres, District Judge for the Southern District of New York, believes the key point is the proposal to lift the permanent injunction rather than the $50 million civil fine (down from the $125 million originally imposed by the court last year). She wrote in Thursday's ruling that a permanent injunction would prohibit further violations of federal securities laws, as the SEC recommended at the time,"because Ripple made huge amounts of money in the violation and Ripple has an incentive to continue to violate the law, the injunction is necessary."
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