New York judge again rejects SEC's settlement request with Ripple

ChainCatcher news, according to CoinDesk, U.S. District Judge Analisa Torres in the Southern District of New York has rejected the SEC's settlement request with Ripple for the second time. The request aimed to reduce the fine to $50 million and lift the permanent injunction, but the judge believes Ripple still has the potential to violate the law again, and the injunction must be maintained.

District Judge Analisa Torres of the Southern District of New York stated that the key point is the proposal to lift the permanent injunction, rather than the $50 million civil penalty (which is a reduction from the $125 million initially imposed by the court last year). In her ruling on Thursday, she wrote that, as the SEC suggested at the time, the permanent injunction prohibits further violations of federal securities laws, "because Ripple earned substantial profits during its illegal activities, and Ripple has the motivation to continue violating the law, so it is necessary to impose this injunction."