SEC Lawsuit: Ripple’s XRP Sales To institutional Buyers Still Pending

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The  Ripple lawsuit remains active on the SEC’s docket. Fox Business journalist Eleanor Terrett noted that Ripple’s XRP was excluded from the last press statements made by the SEC due to an open procedural issue.

The financial watchdog must ask Judge Analisa Torres to lift the injunction she placed on Ripple’s XRP sales to institutional buyers.

However, with the latest announcement from the SEC, Ripple and others seem to be out of the legal fight. From the SEC’s perspective, the dispute was settled after both sides agreed to withdraw. The court proceedings in which both parties were involved were stayed after they filed a Joint Stipulation of Settlement.

The United States Securities and Exchange Commission appears to have closed some enforcement actions against certain crypto firms, namely Kraken, ConsenSys, and Cumberland DRW LLC. All three firms can settle through joint stipulations, which were filed with prejudice, preventing the SEC from bringing identical charges in the future.

The agency completed its investigations into Crypto.com without taking enforcement actions. Additionally, the agency continues its enforcement pullback by closing cases against Coinbase, Robinhood, Uniswap Labs, and OpenSea.

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.

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