Ripple presented a shocking new document to the court in the SEC case!

Crypto company Ripple has made a new move in its ongoing case with the US Securities and Exchange Commission (SEC).

The company submitted an additional document supporting its joint letter titled "request for indicative decision" to the Court in collaboration with the SEC. This document argued for reaching a final resolution in the case and for the preservation of court resources.

In a letter addressed to Judge Analisa Torres by Ripple, it was stated, "This letter supports the parties' search for a settlement and provides additional clarifications to the previously submitted joint letter."

Ripple clearly stated that they do not wish to change the previously issued Summary Judgment. They said that this decision is binding for the parties and serves as a precedent in other cases. Ripple stated, "Even if the court lifts the injunction, our obligation as a company to comply with securities laws continues."

The letter also stated that the settlement conditions, which include a lower penalty agreed upon by the parties, were shaped considering the risks associated with the appeal process. Ripple expressed that this agreement would allow for the conclusion of a "resource-intensive" process.

Ripple expressed that it welcomes this development by reminding that the SEC is reviewing its regulatory approach to digital assets and has dropped other cases. It was also noted that the SEC aims to establish sector-specific standards by forming a "Crypto Task Force."

Ripple stated, "As one of the oldest companies sued by the SEC in the industry, we are one of the rare companies that have experienced this entire process. Now, the acceptance of the agreement reached between the parties by the court not only ensures fairness but also reduces the burden on the courts."

Ripple reiterated that the settlement would not change the court's previous ruling on the merits and would not eliminate the company's liabilities, asking the court to consider this agreement.

*It is not investment advice.

Follow our Telegram group, Twitter account, and Youtube channel for exclusive news, analyses, and on-chain data! Also, start live price tracking by downloading our Android and IOS applications right away!