The message drew attention within the digital asset community, particularly because of the reference to Judge Torres’ involvement at this stage of the case. His view implied that the judge still held an active role in issuing a decisive ruling that could affect XRP’s trajectory.

Marc Fagel’s Response on the Legal Process

Former SEC lawyer Marc Fagel responded directly to the comment. In his reply, Fagel clarified the procedural posture of the case by stating, “Reminder: Judge Torres has nothing further to do with this case.” His response suggested that any expectation of a new ruling or final sign-off from Judge Torres was misplaced.

Reminder: Judge Torres has nothing further to do with this case.

— Marc Fagel (@Marc_Fagel) August 16, 2025

Fagel’s position reflects the understanding that the court’s role in the matter has already concluded at the district level, and no further involvement from Judge Torres is expected as the appeals process has advanced independently.

Community Reaction and Calls Against Misinformation

An additional perspective was from a user, Siebo. He expressed frustration with repeated sharing of inaccurate updates, suggesting there should be a system where accounts that spread false information multiple times would face penalties such as temporary suspensions.

His reaction highlighted the ongoing challenge of misinformation circulating within the cryptocurrency community regarding legal proceedings and their potential market impact.

Context from Recent Legal Developments

The discussion followed a recent update in the ongoing Ripple-SEC case. On August 16, the Times Tabloid reported that the SEC had filed its August 15 status report with the U.S. Court of Appeals for the Second Circuit. This filing confirmed that both the SEC and Ripple had submitted a Joint Stipulation of Dismissal of their cross-appeals.

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— TimesTabloid (@TimesTabloid1) June 15, 2025

According to attorney Bill Morgan, this filing was primarily procedural but could give rise to short-term speculation about Judge Torres issuing a final order. Morgan noted that while the step is largely a formality, the timeline could continue to be misunderstood, leading to inaccurate commentary suggesting imminent rulings from Judge Torres.

Clarifying the Current Stage of the Case

With the filing of the Joint Stipulation, the matter now rests with the Court of Appeals for a formal dismissal of the appeals. This means that while there remains a procedural step for the court to acknowledge the dismissal, Judge Torres’s direct role in the case has concluded.

Fagel’s response aligns with this understanding, pointing out that speculation around a forthcoming ruling from the district court judge does not reflect the current legal status.

The exchange between Steph Is Crypto and Marc Fagel underscores a recurring issue in public commentary on ongoing litigation. While analysts often link court actions to market forecasts, legal experts such as Fagel highlight the importance of accuracy regarding procedural details.

The recent SEC filing and the comments from Bill Morgan further confirm that the case is moving through its final stages, with Judge Torres no longer playing an active role.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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His remarks came in response to a post by X user Ray, who suggested that Judge Analisa Torres still needs to give final approval in the matter, potentially leading to a significant price surge for XRP.

Ray’s post claimed that “all eyes” should be on Monday, alleging that Judge Torres “may give the final green light” in the Ripple vs. SEC case. He further speculated that such a decision could lead XRP to reach a price target of $5. In response, Morgan dismissed the statement outright, describing it as “so deluded and wrong” that he did not know where to begin in addressing it.

This post is so deluded and wrong I don’t know where to begin. https://t.co/B92Y65PTLy

— bill morgan (@Belisarius2020) August 11, 2025

Status of the Ripple vs. SEC Case

The legal conflict, which has been closely monitored by the global digital asset community since it began in December 2020, saw a significant development a few days ago.

According to an August 7 report from Times Tabloid, defense lawyer James K. Filan announced that the SEC and Ripple had jointly filed to dismiss their respective appeals. This action effectively brought the dispute to an end, eliminating the prospect of further litigation over earlier court rulings.

The resolution followed years of legal arguments over whether XRP constituted an unregistered security under U.S. law. Judge Torres’s previous rulings had established distinctions between institutional sales of XRP, which she determined violated securities regulations, while programmatic sales on exchanges did not.

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— TimesTabloid (@TimesTabloid1) June 15, 2025

These partial victories for both sides had initially led to the filing of appeals, but the joint dismissal confirmed that neither party would continue to challenge the decisions.

Market Implications and Reality Check

While XRP remains a widely traded asset in the digital currency market, price predictions tied to legal proceedings often draw scrutiny from legal professionals who emphasize accuracy over speculation. In this case, Morgan’s response serves as a counterpoint to overly optimistic projections that lack a basis in the latest court developments.

With the SEC vs. Ripple dispute now formally closed, future XRP price performance will likely hinge on broader market conditions, adoption trends, and regulatory developments in the United States and internationally, rather than on any remaining judicial rulings from the case.

Morgan’s remarks explain the importance of distinguishing between verifiable legal facts and market rumors, especially in an industry where public statements can influence trading sentiment.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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In a series of comments posted on X, Fagel addressed misconceptions within the XRP community about the current procedural status of the case and explained what remains to be decided.

Fagel stated that Judge Torres’s earlier ruling against Ripple remains effective and does not require additional action from her once the parties withdraw their respective appeals. He wrote, “The parties can drop their appeals, at which time her order against Ripple takes effect. Judge Torres has no further role in this.”

His remarks follow Ripple CEO Brad Garlinghouse’s announcement that the company intends to dismiss its appeal. However, Fagel noted that, as of now, no formal filing to dismiss has been recorded in the court docket.

Expanding on the issue, Fagel argued that despite public statements from Ripple’s leadership, the appeal dismissal has yet to be formally filed by either side. He said neither party has officially taken that procedural step, but added that it is likely they will.

“Neither party has filed to dismiss their appeals… but once they do (and they pretty obviously will), the district court’s ruling against Ripple goes into effect. There is nothing further for Judge Torres to sign off on,” he explained. His comments directly address ongoing debates in the XRP community about whether Judge Torres is still actively involved in the case.

No. The parties can drop their appeals, at which time her order against Ripple takes effect. Judge Torres has no further role in this.

— Marc Fagel (@Marc_Fagel) July 4, 2025

SEC Meeting Unlikely to Affect Ripple Case

In addition to clarifying the judge’s role, Fagel commented on the significance of the SEC’s private meeting held on July 3. Speculation within the XRP community suggested that the meeting might result in an immediate settlement or another significant decision in the Ripple matter. Fagel disagreed with these interpretations, describing the meeting as part of the agency’s routine weekly schedule.

Responding to speculation, Fagel wrote, “Very, very unlikely. The meeting agenda was set well before the district court ruled against vacating the injunction. It typically takes several weeks for a matter to get on the SEC agenda for a vote. Is it possible? Sure, anything’s possible. But would be very unusual.” His view suggests that any resolution to the appeal or settlement process is not directly linked to this meeting and is unlikely to be concluded quickly.

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— TimesTabloid (@TimesTabloid1) June 15, 2025

Timing of Appeal Dismissals and Settlement

Fagel also addressed the timeline for the final resolution of the case. He pointed out that although both parties will probably withdraw the appeal, the process may still take weeks or even longer, depending on how quickly the SEC moves. While acknowledging the possibility of an expedited process, he cautioned that the SEC’s internal procedures are rarely immediate.

He commented, “The SEC approval process doesn’t happen overnight. It typically takes several weeks (or even months). It might be expedited, since they’ve already voted once before to dismiss the appeal.” His remarks underscore that although a settlement appears likely, procedural realities mean it could take additional time to be finalized.

Fagel’s analysis has provided a clearer understanding of how the case is likely to proceed. Judge Torres’ previous ruling against Ripple will remain in place once both sides formally dismiss their appeals, but no further judicial action is required from her.

The July 3 SEC meeting does not appear to be directly relevant to the Ripple lawsuit, and while a settlement remains probable, it is unlikely to occur immediately. Fagel’s comments serve as a reminder that the case’s resolution depends on procedural filings and internal SEC processes, which tend to move at a deliberate pace even when the outcome seems assured.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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While much of the public debate centers around whether Ripple’s future operations will face restrictions, attorney Fred Rispoli offered a precise legal interpretation that attempts to settle the matter.

I see a lot of confusion out here on what the injunction means for Ripple in regard to the ban on “Institutional Sales.” Y’all are forcing me to go back and re-read the summary judgment pleadings, but the TLDR is Institutional Sales is a defined term that ONLY refers to exactly…

— Fred Rispoli (@freddyriz) June 28, 2025

The XRP Lawsuit So Far

On August 7, 2024, Judge Annalisa Torres handed down her final ruling on the long-running legal battle between. She ordered Ripple to pay $125 million as a penalty for violating securities laws through institutional XRP sales. She placed a permanent injunction on the company, preventing further violations of the Securities Act by stopping the institutional sales.

Both parties attempted to appeal the ruling but agreed to settle the case in March. The settlement included reducing Ripple’s penalty to $50 million and the removal of the permanent injunction. However, Judge Torres rejected this proposal. This gives both parties the option of dismissing their appeals and leaving the final ruling unchanged or continuing with the appeals to modify the verdict.

Ripple chose to dismiss its appeal, and in his announcement, CEO Brad Garlinghouse revealed that he expects the SEC to do the same. This move has left the community with many questions regarding Ripple’s path forward.

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What’s Next for Ripple?

Rispoli explained that the term “Institutional Sales” does not apply broadly to all current or future sales involving institutions. Instead, it is a specific legal term defined strictly within the context of Ripple’s past conduct from its inception until 2018. He explained that the injunction tied to this term refers only to what Ripple engaged in during that historical period.

This clarification counters any misconceptions that the court ruling broadly limits Ripple’s ability to conduct institutional sales going forward. Institutions are expected to play a significant role in XRP’s future, and Rispoli suggests the company can still engage with institutions.

Ripple’s Current Position Under the SEC

Rispoli also notes that under the pro-crypto SEC leadership, Ripple’s transparency in separating lowercase “i” institutional sales from “Institutional Sales” has eased concerns. The SEC is now more comfortable with Ripple, provided it follows established guidance, with or without formal registration statements.

Rispoli further explained that Ripple labels the affected transactions as “historical sales,” meaning the injunction targets only past activities. He noted that under the former SEC leadership, future sales might have triggered new legal issues, but this risk has somewhat reduced with the current pro-crypto administration. As Ripple CLO Stuart Alderoty recently stated, the company can now proceed with business as usual.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Crypto commentator Stellar Rippler (@StellarNews007) argues this wasn’t random. According to his analysis, Judge Torres’ background, connections, and rulings reveal a deeper strategy behind the XRP lawsuit.

An Elite Legal Lineage and Suspicious Timing

According to Stellar Rippler, Judge Torres is part of a powerful legal dynasty. She graduated from Harvard and Columbia Law, with a family legacy rooted deeply in New York’s judiciary.

Her father, Frank Torres, was a New York Supreme Court Justice, and her grandfather served as a Bronx judge. Stellar Rippler reveals this is a third-generation legal insider with networks spanning decades.

In 2013, President Obama appointed Torres to the SDNY. Notably, this was the same year Ripple was incorporated. Stellar Rippler suggests this timing isn’t accidental. The XRP Ledger quietly began onboarding banks, raising the possibility that the legal infrastructure needed to manage Ripple’s future challenges was being prepared early.

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— TimesTabloid (@TimesTabloid1) June 15, 2025

A Career Tailored for Financial Control

Torres’s résumé includes extensive experience in financial fraud, institutional litigation, and real estate law. He believes Torres’s time in the NYC Criminal Court and the New York Supreme Court prepared her for cases with heavy financial and public implications.

In July 2023, Judge Torres ruled that XRP sold to retail investors is not a security, but XRP sold to institutions is. Following this, she handed down her final ruling in August 2024, lowering the SEC’s $2 billion demand to $125 million. This allowed retail hype to surge while institutional clarity remained restricted.

More importantly, Stellar Rippler noted that the case remained open, and both parties filed appeals shortly after.

Delays Despite Agreement

In 2025, Ripple and the SEC jointly requested to dismiss their appeals, but Torres denied two joint motions aimed at kick-starting the settlement process. Stellar Rippler argues that this was deliberate, maintaining public uncertainty while the institutional ecosystem quietly builds. Attached to this post is a video of BlackRock CEO Larry Fink speaking about tokenization, which reinforces the claim that XRP is tied to broader financial infrastructure.

Stellar Rippler also noted that Torres’s Columbia Law background connects her to a pipeline feeding SDNY. Her mentor, Judge Richard Holwell, worked alongside BlackRock, Goldman Sachs, and WEF-linked figures.

Stellar Rippler’s analysis suggests that Judge Torres isn’t just ruling on the law, but controlling when the financial system publicly adopts blockchain technology and whether XRP leads that transformation.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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The post Who Is Judge Analisa Torres? The Woman Who Controlled XRP Legal Fate appeared first on Times Tabloid.

Judge Torres recently declined a joint request from both Ripple and the SEC seeking an “indicative ruling” that would permit settlement discussions to proceed based on revised terms.

The proposal aimed to replace the previously ordered $125 million penalty and permanent injunction against Ripple with a significantly reduced $50 million fine and no injunction. Her rejection of the motion was not based on the content of the agreement but rather on procedural deficiencies in the request submitted to the court.

While the parties are anticipated to file a corrected version of the motion shortly, Prosper has suggested that certain high-level interventions or disclosures could alter the trajectory of the case, potentially leading Judge Torres to vacate her prior judgment.

Circumstances That Could Justify a Reversal

According to Prosper, one possibility is the submission of confidential evidence showing that XRP holds strategic relevance to the federal government. This may include classified documentation from agencies such as the U.S. Treasury or the Department of Justice (DOJ).

#XRP #XRPCommunity
What Could Force Judge Torres to Vacate her Judgment?
A. Classified or Confidential Federal Interest
If either the SEC or Ripple presents sealed evidence (e.g., ex parte communications from the U.S. Treasury, Fed, or DOJ), Judge Torres would be required to…

— Ashley PROSPER (@AshleyPROSPER1) May 21, 2025

For instance, internal memos indicating XRP’s potential role in a proposed national digital currency infrastructure, or security assessments warning that the continuation of the lawsuit could negatively affect financial or diplomatic stability, could compel the court to reconsider.

Such materials would likely be presented under seal due to their sensitive nature. Prosper noted that courts sometimes adjust or vacate rulings when matters of national interest are credibly demonstrated, particularly if high-ranking government agencies are involved.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Executive Branch Involvement Could Influence Outcome

Another pathway to reconsideration, Prosper added, would be direct involvement from the federal executive branch. If entities like the Treasury Department or the Federal Reserve were to submit an amicus curiae brief urging the court to reconsider its position, this could introduce significant legal weight. These agencies might argue that XRP plays a critical role in the national or international financial system.

Prosper further explained that the court could apply the principle of Chevron deference, which allows judicial bodies to give weight to federal agencies’ interpretations of ambiguous legislative provisions, especially in matters falling within their expertise. Although infrequent, similar interventions have led to judicial reversals in past financial and regulatory cases.

Implications and Community Response

If either classified documentation or federal agency participation redefines XRP as essential to government financial strategy, Judge Torres could vacate her original ruling. Such a decision could mark a shift in how XRP is legally classified and utilized, potentially positioning it as a key tool in national financial infrastructure rather than a conventional crypto asset.

Nevertheless, some voices within the cryptocurrency community have expressed skepticism, arguing that the scenarios proposed are largely speculative and improbable. Despite this, Prosper maintains that these legal avenues remain viable, depending on the direction taken by both Ripple and the U.S. government in the coming months.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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As reported by crypto analyst Amelie (@_Crypto_Barbie), Judge Analisa Torres has formally denied the parties’ joint motion for an indicative ruling, citing procedural impropriety.

Despite a mutual agreement between Ripple and the SEC to resolve the case, the court emphasized that it lacks jurisdiction due to the ongoing appeal before the Second Circuit.

The motion, filed under Federal Rule of Civil Procedure 62.1, requested that the court dissolve the injunction against Ripple and reduce the $125 million civil penalty to $50 million. However, Judge Torres ruled that even if jurisdiction were restored, the court would still deny the motion.

In her order, she stated, “If jurisdiction were restored to this Court, the Court would deny the parties’ motion as procedurally improper.”

RIPPLE VS. SEC NEWS:

JUDGE TORRES HAS DENIED THE PARTIES‘ MOTION FOR AN INDICATIVE RULING.

“IF JURISDICTION WERE RESTORED TO THIS COURT, THE COURT WOULD DENY THE PARTIES‘ MOTION AS PROCEDURALLY IMPROPER!” #XRP pic.twitter.com/ORtz1nK4aK

— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) May 15, 2025

Settlement Agreement Rejected on Technical Grounds

The SEC and Ripple executed a settlement agreement on May 8, 2025. The terms included vacating the injunction issued in the Final Judgment and reducing the civil penalty by sixty percent, conditioned on court approval. The parties submitted a joint motion for an indicative ruling to allow the Second Circuit to consider remand, which would have permitted Judge Torres to act on the agreement.

Judge Torres, however, concluded that the motion improperly sought “settlement approval” when the proper procedure required relief under Federal Rule of Civil Procedure 60. The court noted that the parties failed to address the legal burden necessary to justify vacating the injunction and modifying the penalty.

Specifically, the request did not satisfy the high threshold required under Rule 60, which demands a showing of exceptional circumstances. Furthermore, the motion did not cite Rule 60 at all.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

What’s Next for Ripple and XRP

XRP reacted negatively to this ruling, falling 6.6% over the past 24 hours to $2.39. This comes shortly after a notable recovery that sent the asset above $2.6.

Stuart Alderoty, Ripple’s Chief Legal Officer, responded by clarifying the scope of the ruling. According to Alderoty, “Nothing in today’s order changes Ripple’s wins (i.e., XRP is not a security, etc).” He emphasized that the issue is procedural and tied to the dismissal mechanics of Ripple’s cross-appeal, not a reversal of any substantive legal victories.

The ruling from July 2023 and the final judgment issued in August 2024 remain in effect. However, the SEC’s appeal and Ripple’s cross-appeal remain pending before the Second Circuit, and both parties must now seek a formal remand from the Second Circuit before the proposed agreement can be considered.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Focus on Remedies and Redactions

The court order pertains specifically to information related to potential remedies in the case. This could include details on Ripple’s financial statements and XRP sales conducted after the SEC filed its lawsuit in December 2020. Both Ripple and the SEC have argued for the partial sealing of these documents, citing the need to protect sensitive financial information.

Read Also: Ripple vs. SEC Lawsuit Key Dates Revised. Here Are The New Dates

Judge Torres’ decision allows for a revised schedule and redaction process for the remedies briefing. This ensures that the core arguments from both parties will be made public, except for commercially sensitive details.

The order also mandates a period of negotiation between Ripple, the SEC, and potentially interested third parties to determine the specific content that will be redacted from the public filings.

New Deadlines and Potential Settlement

The revised schedule establishes new deadlines for the filing of briefs and responses. The SEC was to submit its opening brief on March 22, followed by a period of negotiation over redactions. Publicly available redacted versions of the briefs are expected by March 26 and April 22 for the SEC and Ripple, respectively.

The deadline for reply briefs and motions regarding the sealing of information is set for May 20. This extended timeframe allows for a thorough review of the remedies argument and a potential resolution of the dispute. Legal experts anticipate that a settlement agreement between Ripple and the SEC could be reached before the case goes to trial.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: John Deaton is Confident Hinman Documents Would Become Public

Impact on XRP Price and Timeline

The ongoing lawsuit has had a significant impact on the price of XRP. For the past 24 hours, the recent news has caused a 4.43% increase in XRP’s value, currently trading at 0.62 but the long-term implications remain uncertain. The focus on post-complaint XRP sales by the SEC suggests that this could be a key factor in determining the outcome and any potential penalties for Ripple.

Judge Torres’ previous ruling in July 2023, which clarified that XRP itself is not a security under U.S. law, was a positive development for Ripple. However, the remedies phase of the lawsuit could still influence XRP’s price depending on the final judgment.

Given the extended timeline for redactions, replies, and potential motions, it is likely that the case will continue for several more months. A final judgment from Judge Torres is not expected until sometime in 2025.

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The post New Update: Why XRP Lawsuit Conclusion May Extend Further appeared first on Times Tabloid.

James K. Filan (@FilanLaw), a notable pro-crypto lawyer and former federal prosecutor, shared the update on X.

#XRPCommunity #SECGov v. #Ripple #XRP Judge Torres has set the schedule regarding remedies discovery and briefing. pic.twitter.com/Vvc8wPVWlT

— James K. Filan (@FilanLaw) November 13, 2023

The Background of the Lawsuit

In 2020, the SEC alleged that Ripple sold XRP as an unregistered security, raising over $1.3 billion in an illegal initial coin offering (ICO). Ripple denied the allegations, arguing that XRP is a utility token, not a security.

The lawsuit and other similar ones have exposed the flaws in the SEC’s regulatory strategy, with judges describing the SEC’s positions as arbitrary and capricious, and pointing out the hypocrisy in the regulator’s arguments.

In recent months, there have been several important developments in the lawsuit. In October 2023, the SEC dropped charges against Ripple executives Brad Garlinghouse and Chris Larsen. This followed Ripple’s win in July when XRP sales on public exchanges were ruled as not unregistered securities offerings and the denial of the SEC’s interlocutory appeal months later.

However, the SEC is still pursuing its case against Ripple, alleging that the company violated securities laws by selling XRP directly to institutional investors.

The Schedule

The schedule set by Judge Torres is as follows:

• February 12, 2024: Deadline for parties to complete remedies-related discovery.
• March 13, 2024: Deadline for the SEC to file its brief for Section 5 violations concerning its institutional sales of XRP and other parts.
• April 12, 2024: Deadline for Ripple to file its opposition to the SEC’s brief.
• April 29, 2024: Deadline for the SEC to file its reply to Ripple’s opposition.

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Judge Torres will have two options once the briefs have been filed. She could issue a summary judgment based on the legal arguments presented in the briefs. Or, she could schedule a trial to hear evidence on the remedies issue.

Jeremy Hogan (@attorneyhogan1) also weighed in on the current state of the lawsuit, pointing out that Ripple’s lawyers had reduced the case to 20% of the original. He stated, “Look at the case heading – the only Defendant is Ripple. The defense has whittled the case down to only 20% of what it used to be. How much of it will be left in July?”

Ripple’s CEO Brad Garlinghouse recently revealed the next action in the lawsuit. With a final judgment expected in July 2024, the XRP community is eager to see what happens next.

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In a recent decision regarding the ongoing XRP lawsuit, Judge Analisa Torres has raised significant concerns about the Securities and Exchange Commission’s (SEC) inconsistent legal theories.

This development has further intensified the scrutiny surrounding the regulatory body’s actions. Crypto-Law, a prominent US regulatory and legal platform for digital holders, shed light on this latest development, exposing the judge’s pointed criticism.

In Footnote 6 of her ruling today, Judge Torres rapped the @SECGov for “shifting and inconsistent arguments as to its legal theory about Other Distributions”. This is in line with Judge Netburn’s earlier admonition on the SEC’s “lack of faithful allegiance to the law.” pic.twitter.com/qK2pKpnMSV

— CryptoLaw (@CryptoLawUS) October 4, 2023

Read Also: Ripple CEO: XRP To Become Next Bitcoin Once This Multi-Trillion Dollar Problem Is Solved

SEC’s Shifting Arguments Draw Judge Torres’s Criticism

The SEC’s request to certify an interlocutory appeal in the Ripple case was recently denied by the court. Following this decision, excerpts from the ruling unveiled the judge’s reproach of the SEC’s fluctuating arguments.

Judge Torres explicitly highlighted the SEC’s inconsistencies in footnote 6 of her ruling, stating that the regulatory body presented “shifting and inconsistent arguments as to its legal theories about Ripple’s other distributions.”

Ripple’s other distributions of XRP are integral to the SEC’s case, and its legal stance regarding these transactions is pivotal.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Conflicting Claims by the SEC

Judge Torres reveals that the SEC put forth contradictory arguments about the nature of these distributions. At one point, the regulatory body contended that the other distributions of XRP were considered unregistered securities due to their association with non-cash considerations.

On the other hand, the SEC claimed that these distributions were, in fact, indirect sales of XRP to the public. The agency argued that Ripple conducted these transactions to create liquidity for the cryptocurrency and attract individuals to its technology.

However, the inconsistency came to light when Judge Torres pointed out that it was unclear how these legal theories aligned with the SEC’s contention that Ripple gifted XRP to third parties, which the agency did not include in its initial complaint.

Read Also: Pro-XRP Lawyer and Coinbase CLO Believe SEC’s Interlocutory Appeal Is Destined for Rejection

Previous Criticism of the SEC

Crypto-Law highlighted Judge Torres’s scathing comments, noting that she criticized the SEC for its inconsistent arguments. The judge’s remarks echo those of Magistrate Sarah Netburn, who previously admonished the SEC for its lack of fidelity to the law.

Magistrate Netburn astutely observed that the SEC selectively adopts litigation positions based on its desired goals rather than maintaining faithful adherence to the law. These critical viewpoints from two different members of the judiciary underscore the growing skepticism surrounding the SEC’s actions in its case against Ripple.

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