作為美國地方法院法官Analisa Torres Ripple的1.25億美元和解罰款，XRP價格下跌了3％至2.41美元，針對Ripple。

Ripple（XRP）週五下跌了3％，在負面的法律發展中，對監管不確定性的擔憂重新激發了，低至2.37美元。

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Recently, Judge Analisa Torres of the U.S. District Court for the Southern District of New York made a noteworthy decision in overruling the $125 million settlement fine levied on Ripple.

最近，紐約南部地區的美國地方法院的Analisa Torres法官做出了一個值得注意的決定，以否決在Ripple上徵收的1.25億美元和解罰款。

This development unfolded as part of the ongoing case brought by the Securities and Exchange Commission (SEC) against Ripple. The SEC is pursuing claims that the cryptocurrency firm engaged in an unregistered offering of securities.

這一發展是作為證券交易委員會（SEC）針對Ripple提出的正在進行的案件的一部分而展開的。美國證券交易委員會（SEC）提出聲稱，即加密貨幣公司從事未登記的證券。

In a prior ruling, Judge Torres had partially sided with the SEC’s assertions that Ripple’s sales of XRP to institutional investors constituted investment contracts, thereby classifying them as securities.

在先前的裁決中，托雷斯法官部分支持美國證券交易委員會（SEC）的主張，即朝鮮將XRP銷售給機構投資者構成了投資合同，從而將其歸類為證券。

However, the judge disagreed with the SEC’s stance on Ripple’s programmatic token sales. Despite this ruling, Judge Torres shot down a proposed $50 million settlement that the two parties had reached in April.

但是，法官不同意SEC對Ripple的程序化令牌銷售的立場。儘管採取了這項裁決，但托雷斯法官拒絕了兩黨在4月達成的一項擬議的5000萬美元和解。

The SEC's case against Ripple began in December 2020 with the agency’s allegations that Ripple had sold billions of XRP to raise funds without registering its offerings with the SEC.

SEC針對Ripple的案件始於2020年12月，該機構的指控稱Ripple已出售了數十億XRP以籌集資金，而無需在SEC登記其產品。

The SEC's complaint focused on two main types of XRP sales: "institutional sales," in which Ripple sold XRP to large investors, and "programmatic sales," where Ripple sold XRP in smaller amounts to a broader range of investors through a computer program.

SEC的投訴集中在XRP銷售的兩種主要類型上：“機構銷售”，其中Ripple將XRP賣給了大型投資者和“程序化銷售”，其中Ripple通過計算機計劃以較小的投資者銷售了XRP。

In March 2023, Judge Analisa Torres ruled partly in favor of the SEC, deciding that the institutional sales of XRP were indeed part of an investment contract and should be classified as securities.

2023年3月，Analisa Torres法官部分統治了SEC，決定XRP的機構銷售確實是投資合同的一部分，應歸類為證券。

On the other hand, the judge disagreed with the SEC regarding the programmatic sales of XRP, stating that they were not sold in a manner that would classify them as securities.

另一方面，法官不同意SEC關於XRP的程序銷售的意見，並指出，他們不是以將其歸類為證券的方式出售的。

After months of back-and-forth, the two sides reached a surprising $50 million settlement agreement in April.

經過幾個月的來回，雙方在4月達成了一項令人驚訝的5000萬美元和解協議。

This proposed settlement would have seen the SEC drop its case against Ripple in exchange for the cryptocurrency firm paying a penalty of $50 million and an injunction on future securities violations. However, Judge Torres ultimately rejected the settlement, stating that she "cannot approve" the settlement in its present form.

這項擬議的和解將使SEC對Ripple的案件撤銷，以換取加密貨幣公司，以罰款5000萬美元，並對未來證券違反的禁令。但是，托雷斯法官最終拒絕了和解，並指出她以目前的形式“不能批准”和解。

The judge's decision to reject the settlement is a significant setback for both the SEC and Ripple.

法官決定拒絕和解的決定是SEC和Ripple的重大挫折。

The SEC will now have to decide whether to continue pursuing its case against Ripple in its entirety or to try and negotiate a new settlement agreement.

SEC現在將必須決定是否繼續對Ripple進行全面提起訴訟，還是嘗試談判新的和解協議。

Meanwhile, Ripple will be forced to continue defending itself against the SEC's claims, which could ultimately lead to a full trial of the case.

同時，Ripple將被迫繼續為SEC的主張辯護，這最終可能導致對案件進行全面審判。

This case has far-reaching implications for the cryptocurrency industry. If the SEC wins its case against Ripple, it could deter other cryptocurrency firms from raising funds in the U.S. without registering their offerings with the SEC.

此案對加密貨幣行業具有深遠的影響。如果SEC贏得了針對Ripple的案件，它可能會阻止其他加密貨幣公司在美國籌集資金而不在SEC登記其產品。

This could make it more difficult for cryptocurrency firms to access the capital they need to grow their businesses.

這可能會使加密貨幣公司更難獲得發展業務所需的資金。

On the other hand, if Ripple prevails in this case, it could deter the SEC from bringing cases against cryptocurrency firms for selling digital assets that are not classified as securities.

另一方面，如果在這種情況下波紋佔上風，它可能會阻止SEC提出針對加密貨幣公司出售未歸類為證券的數字資產的案件。

This could create more legal certainty for the cryptocurrency industry and encourage greater investment in the sector.

這可以為加密貨幣行業提供更多的法律確定性，並鼓勵對該行業進行更多的投資。

The coming days and weeks will be crucial in determining the next chapter of this case and its broader impact on the cryptocurrency landscape.

接下來的幾天和幾週對於確定此案的下一章及其對加密貨幣景觀的更廣泛影響至關重要。