XRP News Today: Ripple vs SEC Legal Battle Continues After Judge Rejects Settlement

In a significant development, the ongoing legal dispute between the Securities and Exchange Commission (SEC) and Ripple has taken an unexpected turn. Judge Analisa Torres, who has been presiding over the case, has dismissed a joint request submitted by both Ripple and the SEC. This request was intended to finalize the lawsuit by adjusting the penalty terms against Ripple and allowing both parties to withdraw their appeals. However, Judge Torres' decision means that the legal battle is far from over.

Adding to the complexity of the situation, a recent online claim has surfaced, asserting that "XRP has no legal clarity" and lacks institutional support. The claim further stated that no major central bank digital currencies (CBDCs) operate on the XRP Ledger (XRPL) and that only Bitcoin is part of the U.S. reserve. This assertion has been strongly refuted by pro-XRP lawyer Bill Morgan, who described it as "the biggest lie I’ve seen in crypto this year." Morgan emphasized that Judge Torres had already ruled that XRP itself is not a security, a decision that the SEC did not challenge in its appeal.

Morgan further clarified that even if the judge's comments were considered dicta, they still provide a degree of legal clarity. He explained that the reasoning used by Judge Torres is persuasive authority in court and that no court has found XRP to be a security. Morgan went on to state that XRP has more judicial clarity than Bitcoin, which he claims has none.

Despite the ongoing legal challenges, most experts remain optimistic that a final resolution is within reach. The rejection of the joint filing does not affect XRP's existing legal clarity or standing. While the SEC and Ripple will need to revisit their discussions on penalties, the core outcomes of the case remain unchanged. The legal battle continues, but the future of XRP remains a topic of intense debate and scrutiny.