在巨大的挫折中，Analisa Torres法官否認雙方要求指示性裁決

在長期運行的XRP訴訟中，Analisa Torres法官否認雙方對指示性裁決的要求。

Judge Analisa Torres has denied both parties’ request for an indicative ruling in the long-running case between the U.S. Securities and Exchange Commission (SEC) and crypto firm Ripple, according to a recent filing. The court outlined reasons and cited case laws to back up its decision to reject this motion, which would have ultimately put an end to the legal battle.

根據最近的一份文件，Analisa Torres法官否認雙方在美國證券交易委員會（SEC）（SEC）與加密貨幣公司Ripple之間長期運行的案件中對指示性裁決的要求。法院概述了理由，並列舉了案件法，以支持其拒絕這項動議的決定，最終將結束法律鬥爭。

Judge Torres Denies Request For Indicative Ruling In XRP Lawsuit

托雷斯法官否認在XRP訴訟中要求進行指示性裁決

Defense lawyer James Filan announced in an X post that Judge Torres has denied the motion by Ripple and the SEC for an indicative ruling. The court determined that the motion was “procedurally improper.”

辯護律師詹姆斯·菲蘭（James Filan）在X帖子中宣布，托雷斯法官否認了Ripple和SEC的動議作出指示性裁決。法院裁定該動議是“程序上不當的”。

As Judge Torres explained, the parties have to make such a request under Federal Rule of Civil Procedure 60(b), which governs motions for relief from a final judgment. The court further remarked that by styling their motion as one for settlement approval, Ripple and the SEC failed to address the heavy burden they must overcome to vacate the injunction and substantially reduce the Civil penalty.

正如托雷斯法官所解釋的那樣，當事各方必鬚根據《聯邦民事訴訟規則》第60（b）條提出這樣的請求，該要求統治了從最終判決中救濟的動議。法院進一步指出，通過將他們的動議作為解決方案批准，Ripple和SEC未能解決他們必須克服的沉重負擔，以撤離禁令並大大減少民事罰款。

The SEC filed its settlement agreement with Ripple with the court last week. As part of the settlement in the XRP lawsuit, the Commission requested that the court vacate the injunction against Ripple and reduce the monetary judgment to $50 million from $125 million.

SEC上周向法院與Ripple提出了和解協議。作為XRP訴訟中和解的一部分，委員會要求法院撤消對Ripple的禁令，並將貨幣判決從1.25億美元減少到5000萬美元。

However, as Judge Torres noted in her ruling on the motion, relief from judgment under Federal Rule of Civil Procedure is granted “only upon a showing of exceptional circumstances.” She added that both parties have made no effort to satisfy the burden here, as their request doesn’t even mention Rule 60(b).

但是，正如托雷斯法官在動議的裁決中指出的那樣，“僅在表現出特殊情況下，就授予了聯邦民事訴訟統治下的判決。”她補充說，雙方都沒有努力滿足這裡的負擔，因為他們的要求甚至沒有提及第60（b）條。

It is worth mentioning that legal expert Bill Morgan had warned that Judge Torres’ decision on the request was still in the air. He stated that the judge must form a view that the settlement is in the public interest.

值得一提的是，法律專家比爾·摩根（Bill Morgan）警告說，托雷斯法官對該請求的決定仍在播出。他說，法官必須形成一種觀點，即該和解符合公共利益。

What Ripple And The SEC Must Do Next

接下來要做什麼波紋和SEC必須做什麼

Legal expert Fred Rispoli explained that Ripple and the SEC will refile the motion under the correct rule. However, commenting on the wording of the court’s decision, he noted that both parties need to get on their knees and beg for the relief as they look to finally settle the XRP lawsuit.

法律專家弗雷德·里斯波利（Fred Rispoli）解釋說，Ripple和SEC將根據正確的規則重新提出動議。但是，在評論法院裁決的措辭時，他指出，雙方都需要跪下來，乞求救濟，因為他們希望最終解決XRP訴訟。

MetaLawMan, another legal expert, had previously warned that it is far from a sure thing that a federal judge would agree to vacate a prior ruling as part of a settlement. He remarked that this was fairly commonplace several years ago, but now, judges have started balking at this in more recent years.

Metalawman是另一位法律專家，此前曾警告過，聯邦法官同意將先前的裁決作為和解的一部分撤離是一件肯定的事情。他指出，這是幾年前相當普遍的，但是現在，近年來，法官已經開始對此進行言論。

Basically, Judge Torres granting the relief won’t be straightforward even when Ripple and the SEC refile their motion under the correct procedure. She already mentioned that the district court must “determine whether the proposed consent decree is fair and reasonable, with the additional requirement that the public interest would not be disserved in the event that the consent decree includes injunctive relief.”

基本上，即使Ripple和SEC在正確的程序中重新提出動議，授予救濟的托雷斯法官也不會直接。她已經提到，地方法院必須“確定擬議的同意令是否公平合理，並要求在同意書包含禁令救濟的情況下，公共利益將不會被裁定。”

After Judge Analisa Torres denied both parties’ request for an indicative ruling, Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, spoke about the decision. In an X post, he affirmed that nothing in the order changes his firm’s wins, including the ruling that XRP is not a security.

在Analisa Torres法官否認雙方要求指示性裁決的請求之後，Ripple的首席法律官（CLO），Stuart Alderoty談到了這一決定。在X帖子中，他確認該命令中沒有任何改變他公司的勝利，包括XRP不是安全的裁決。

"No new rulings, no new decisions, just procedural observations," Alderoty clarified. The order stems from a technicality in the parties' request to grant portions of their motion, which they'll be resubmitting.

奧爾德羅蒂澄清說：“沒有新的裁決，沒有新的決定，公正的觀察。”該命令源於當事方批准其動議的一部分要求，他們將重新提交。

"The parties are in full agreement to resolve this case and will be making a joint filing to return this matter to Judge Torres to vacate the injunction and reduce the civil penalty."

“當事方完全達成共識，以解決此案，並將聯合提交此事向托雷斯法官撤回禁令並減少民事罰款。”

As reported earlier, Judge Analisa Torres ruled in favor of Ripple in a landmark decision, rejecting the SEC’s claims that the crypto firm’s token, XRP, is a security. The judge determined that XRP sold in exchange for fiat currency on centralized exchanges constituted security transactions, but those sold directly to institutional investors in private placements did not.

如前所述，Analisa Torres法官在具有里程碑意義的決定中裁定支持Ripple，拒絕了SEC的說法，即加密貨幣公司的代幣XRP是安全的。法官確定，XRP在集中交易所上出售以換取法定貨幣，構成了安全交易，但這些交易直接出售給機構投資者的私人安置。

However, Judge Torres ultimately granted the SEC’s request for an injunction against Ripple, imposing a hefty civil penalty of $125,000. In contrast, the SEC sought a minimal penalty of $50,000 to be imposed on Ripple.

但是，托雷斯法官最終批准了SEC要求對Ripple的禁令，判處125,000美元的民事罰款。相比之下，SEC要求對Ripple徵收50,000美元的罰款。

Following this ruling, the SEC appealed Judge Torres’ decision on the institutional investors, while Ripple expressed interest in appealing the ruling on the injunction and the penalty.

根據這項裁決，SEC向托雷斯法官對機構投資者的裁決提出上訴，而Ripple表示有興趣對禁令和罰款提出上訴。

Despite the appeals, the SEC and Ripple later reached a settlement agreement, which was submitted to the judge last week. As part of the settlement, the SEC requested that Judge Torres vacate the injunction and reduce the monetary judgment to $50 million from $125 million.

儘管提出上訴，但SEC和Ripple隨後達成了一項和解協議，該協議上週提交了法官。作為和解的一部分，SEC要求托雷斯法官撤消禁令，並將貨幣判決從1.25億美元減少到5000萬美元。

The judge decided to deny this request, highlighting that the parties failed to satisfy the burden for obtaining such relief. Judge Torres pointed out that the request to absolve Ripple of some of its obligation to cease the illegal sale of securities and pay the full civil penalty amounts to a motion to vacate significant portions of the final judgment.

法官決定否認這一要求，強調當事方未能滿足獲得這種救濟的負擔。托雷斯法官指出，違反其某些義務的要求，要求停止非法出售證券，並支付全部民事罰款金額，以撤消最終判決的大部分。

This request should have been made under Federal Rule of Civil Procedure 60(b) and not Rule 60(c), which

該請求應根據聯邦民事訴訟規則第60（b）條提出，而不是規則60（c）