XRP Case Update: Ripple's New Filing Highlights Binance's Ruling Against Harsh Penalties

Leading crypto payments company Ripple has filed a supplemental warrant in its ongoing litigation with the United States Securities and Exchange Commission (SEC).
The new filing is related to the latest court ruling in the SEC v. Binance lawsuit, which partially rejected and partially approved the exchange’s allegations against the SEC that certain digital asset sales constituted investment contracts.
Binance Judge’s Observations
The payments company noted that the Binance judge followed the summary judgment reasons in the SEC v. Ripple case, applying the ruling to secondary market sales of BNB, one of the disputed assets.
Additionally, Ripple argued that the judge recognized the difficulty of applying traditional securities laws to intangible digital assets.
The court observed that the SEC’s approach to litigating the industry through individual lawsuits rather than explicit regulations was inefficient.
Ripple claims that the Binance judge’s observations on the lack of regulatory clarity further support its position that its actions do not warrant harsh sanctions.
Following the supplemental letter of attorney regarding the Binance ruling, the SEC is expected to file its objections in the coming days.
Ripple still striving for lower penalties
It’s worth noting that Ripple’s recent brief filing is intended to support the company’s opposition to the SEC’s pending penalty motion.
Recall that the SEC sought a fine of nearly $1.95 billion for Ripple’s securities law violations. The regulator also asked the court for a permanent injunction against Ripple’s institutional sales of XRP. In response, Ripple argued that no injunction should be issued and argued for a fine of no more than $10 million.
Meanwhile, this is the second time Ripple has filed a supplemental warrant in a remedial lawsuit. Last month, the crypto payments company cited the SEC v. Terra settlement to justify a reduced fine.
The court will set a timeline for a final ruling after the SEC responds to Ripple’s latest filing. It is worth noting that the final verdict could be released at any time, with top stakeholders expected to make a decision this year.
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