SEC的6月16日更新是否會影響XRP價格和Ripple法律地位的未來軌跡？

預計SEC將在6月16日之前提出法院更新，本周可能會塑造Ripple法律地位和XRP價格績效的未來軌跡。

The U.S. Court of Appeals is expecting an update from the Securities and Exchange Commission (SEC) by June 16 on the progress of its potential settlement with Ripple. This procedural development could be pivotal in determining whether the XRP lawsuit is moving toward resolution or faces further delay.

美國上訴法院預計，在6月16日之前，美國證券交易委員會（SEC）對其與Ripple的潛在解決方案進行了更新。這種程序開發可能是確定XRP訴訟是否正在朝著解決方案發展還是面臨進一步延遲的關鍵。

The SEC’s status report is a crucial milestone in the ongoing case, which could have a significant impact on institutional interest, exchange-traded fund (ETF) momentum, and broader regulatory clarity for XRP.

SEC的地位報告是正在進行的案件中的關鍵里程碑，這可能會對XRP的機構利益，交易所交易基金（ETF）勢頭（ETF）勢頭（ETF）勢頭和更廣泛的監管清晰度產生重大影響。

Earlier this month, Judge Analisa Torres of the U.S. District Court rejected a joint motion from the SEC and Ripple to stay the administrative steps pending appeal. The parties had attempted to file the motion improperly under Rule 62.1 of the Federal Rules of Civil Procedure, which led to the judge's decision.

本月早些時候，美國地方法院的Analisa Torres法官拒絕了SEC和Ripple的共同動議，以保持行政步驟待上訴。雙方試圖根據《聯邦民事訴訟規則》第62.1條提出該動議，這導致了法官的裁決。

However, legal experts, including attorney Fred Rispoli, point out that both parties still have the option to submit a revised motion for stay of administrative steps and administrative action. This time, they would file it under Federal Rule of Civil Procedure 60 to modify the existing judgment or order.

但是，包括弗雷德·里斯波利（Fred Rispoli）在內的法律專家指出，雙方仍然可以選擇提出修訂的動議，以持續行政步驟和行政訴訟。這次，他們將根據《聯邦民事訴訟規則》 60提交，以修改現有的判決或命令。

"If they file the Rule 60 motion to modify judgment by Monday, June 16, it would buy both parties an additional 60 days to prepare their next status report," Rispoli noted in a recent post on X.

Rispoli在最近的X上發表的一篇文章中指出：“如果他們提出第60條的動議，以在6月16日星期一之前修改判決，它將再購買60天以準備下一個身份報告。”

But in a surprising turn of events, Judge Torres has granted permission to both the SEC and Ripple to pursue an appeal of her prior ruling. This decision came after both parties expressed their intent to appeal specific aspects of the judge’s decision in March.

但是，令人驚訝的是，托雷斯法官已允許SEC和Ripple允許她提起她以前的裁決的上訴。這項決定是在雙方表示意圖對3月法官判決的特定方面提出上訴的意圖之後。

The judge’s ruling on March 15 had largely sided with Ripple in key parts of the case. Specifically, the judge ruled that the SEC failed to sufficiently demonstrate that portions of Ripple’s institutional sales of XRP constituted "offerings," as defined by Section 4(6) of the Securities Act of 1933.

法官在3月15日的裁決在很大程度上支持了案件的關鍵部分。具體而言，法官裁定，SEC未能充分證明Ripple的XRP機構銷售的一部分構成了“產品”，這是1933年《證券法》第4（6）條所定義的。

However, the judge also found that the SEC did manage to prove that portions of Ripple’s sales to retail investors were part of an ongoing "offering" and were sold in violation of Section 5 of the Act.

但是，法官還發現，SEC確實證明了Ripple銷售零售投資者的一部分是正在進行的“發行”的一部分，並且違反了該法第5條的出售。

Despite this victory for Ripple, the crypto firm is still largely unable to pursue a U.S.-based initial public offering (IPO) or other capital-raising activities due to the ongoing injunction. This injunction was imposed on the SEC in December 2022 to prevent the agency from taking any actions to interfere with Ripple’s fundraising activities.

儘管這是Ripple的勝利，但由於持續的禁令，加密貨幣公司仍然無法從事美國的首次公開募股（IPO）或其他資本累積活動。該禁令於2022年12月在SEC施加，以防止該機構採取任何行動來干擾Ripple的籌款活動。

Moreover, the judge’s administrative ruling also impacts the potential approval of an XRP ETF by the SEC.

此外，法官的行政裁決還影響了SEC的XRP ETF的潛在批准。

But could a new Rule 60 motion be pivotal in shifting the tide of the lawsuit?

但是，新規則60動議可以轉移訴訟的潮流關鍵嗎？

According to legal experts, a filing under Rule 60 appears to be Ripple’s strongest remaining option for seeking relief. This is especially pertinent considering that the judge’s earlier decision on April 27 closed the door on a Rule 62.1 motion.

根據法律專家的說法，根據第60條規定的文件似乎是波紋尋求救濟的最強剩餘選擇。考慮到4月27日法官的較早決定關閉了規則62.1動議的大門，這尤其相關。

Earlier this month, Judge Torres also shot down a joint motion from the SEC and Ripple to stay the administrative steps pending appeal. The parties had attempted to file the motion improperly, leading to the judge’s decision.

本月早些時候，托雷斯法官還從SEC和Ripple降低了一項聯合動議，以保持行政步驟待上訴。雙方試圖不正確地提出動議，從而導致法官的決定。

However, legal experts suggest that both parties still have the opportunity to submit a revised motion for stay of administrative steps and administrative action. This time, they would file it under Federal Rule of Civil Procedure 60 to modify the existing judgment or order.

但是，法律專家認為，雙方仍然有機會提出修訂的動議，以持續行政步驟和行政訴訟。這次，他們將根據《聯邦民事訴訟規則》 60提交，以修改現有的判決或命令。

"If they file the Rule 60 motion to modify judgment by Monday, June 16, it would buy both parties an additional 60 days to prepare their next status report," Rispoli stated.

里斯波利說：“如果他們提出第60條動議，以在6月16日星期一之前修改判決書，它將再購買雙方60天以準備下一個身份報告。”

This pressing deadline arises from a previous ruling by the U.S. Court of Appeals for the Ninth Circuit. The court instructed the lower court to provide an update on the progress of any settlement endeavor or other material developments in the case by June 16.

這個緊迫的截止日期源於美國上訴法院對第九巡迴法院的先前裁決。法院指示下級法院在6月16日之前提供有關任何和解努力或其他重大發展的進度的最新消息。

In anticipation of this deadline, legal experts are speculating that the SEC and Ripple may cooperate to file a Rule 60 motion. This motion would aim to modify the existing judgment in order to factor in the administrative steps that need to be stayed.

預計這一截止日期，法律專家猜測SEC和Ripple可能會合作提交規則60動議。該動議旨在修改現有判決，以考慮需要保持的行政步驟。

However, Rispoli noted that the chances of reaching a settlement before June 16 are slim. He explained that if a settlement is reached, it usually happens in the final stages of the case. In this instance, both parties would need to agree on the terms of the administrative steps to be stayed.

但是，里斯波利指出，在6月16日之前達成和解的機會很小。他解釋說，如果達成和解，通常會發生在案件的最後階段。在這種情況下，雙方都需要就要保留的行政步驟的條款達成共識。

"My view is that, in the absence of an agreed-upon motion, the SEC would likely file a motion to stay administrative steps, while Ripple would likely file a motion to modify judgment," Rispoli added.

Rispoli補充說：“我的觀點是，在沒有商定的動議的情況下，SEC可能會提出一項動議以保持管理步驟，而Ripple可能會提出動議以修改判斷。”

Discussing the possibility of the SEC and Ripple reaching an out-of-court settlement, former SEC attorney James Farrell highlighted the importance of this step. He noted that Ripple could remain barred from public listing for at least four years unless the agency agrees to discontinue its appeal of the lower court’s decision

前SEC律師詹姆斯·法雷爾（James Farrell）討論了SEC和Ripple達成場外和解的可能性，強調了這一步驟的重要性。他指出，除非該機構同意停止對下級法院裁決的上訴，否則波紋可能仍會被禁止在公共上市至少四年