Bill Morgan backs Ripple-SEC motion to cut $125M fine to $50M and dissolve injunction, easing settlement and avoiding appeals.
With the Ripple vs. SEC legal battle approaching a pivotal moment, attorney Bill Morgan has shed light on the most compelling point in the joint motion submitted by Ripple and the SEC.
Morgan Highlights Key Argument in Ripple-SEC Joint Motion
The motion requests amendments to the final judgment issued in August 2024, which imposed a $125 million penalty on Ripple and an injunction for violating securities laws. The deadline for the SEC to file a status report with the Appeals Court is set for June 15, 2025, fueling speculation that a resolution could come as early as June 13, 2025.
Morgan, a vocal commentator on the case, emphasized that the joint motion’s strongest argument lies in the necessity of modifying the August 2024 ruling to facilitate a potential settlement.
He pointed to recent dismissals of SEC cases against crypto firms like Coinbase and Consensys, as well as shifts in the SEC’s regulatory stance, as bolstering the case for amending the judgment. These developments suggest a changing legal landscape that could favor Ripple.
The joint motion follows an earlier attempt in May, which Judge Analisa Torres rejected.
The refiled motion underscores “exceptional circumstances” to justify revising the final judgment. Sources close to the case, cited by Fox Business journalist Eleanor Terrett, indicate that the amendment could reduce Ripple’s penalty by approximately $75 million, potentially paving the way for a settlement and concluding the 4.5-year legal saga.
Legal experts remain divided on the outcome. Some, like attorney Fred Rispoli, believe a settlement is imminent, while others, including Jeremy Hogan, argue that the SEC may pursue the case further, potentially prolonging the dispute.
The crypto community is closely watching, as the decision could have far-reaching implications for XRP and the broader cryptocurrency regulatory framework.
As the June 15 deadline looms, anticipation is high for whether Ripple and the SEC will reach a resolution or continue their legal battle, with the outcome poised to set a significant precedent for the industry.
