Ripple vs SEC Battle可能会在今年结束

随着和解谈判和本周的一次关键SEC会议，对于XRP而言，赌注比以往任何时候都要高。这是对事物立场的快速分解

The prolonged legal battle between Ripple and the SEC might finally reach its conclusion this year. With settlement talks ongoing and a critical SEC meeting on Thursday, the stakes are higher than ever for XRP.

Ripple和SEC之间的长期法律斗争可能最终得出今年的结论。随着和解的持续谈判和周四的关键SEC会议，对于XRP而言，赌注比以往任何时候都要高。

Here's a quick rundown of where things stand, what's next, and why this week could be crucial for the crypto industry.

这是对事物的立场，下一步以及为什么本周对加密货币行业至关重要的快速分析。

The SEC is planning to appeal a federal judge’s ruling that covered different legal classifications for the institutional and retail sales of the XRP token. The regulator is aiming to overturn the 2023 ruling, which stated that Ripple’s programmatic sales of XRP to retail customers did not violate securities laws, whereas its institutional sales did.

SEC计划对联邦法官的裁决提出上诉，该裁决涵盖了XRP令牌的机构和零售销售的不同法律分类。监管机构的目的是推翻2023年的裁决，该裁决指出，Ripple将XRP的程序销售额用于零售客户并未违反证券法，而其机构销售也没有违反。

Earlier this year, the SEC filed an opening brief in its appeal against Ripple, arguing that all sales of XRP should be counted as unregistered securities. The regulator claims that Ripple’s marketing activities and statements to the public were meant to create profit expectations in the minds of those buying XRP, which in return rendered the token an "unregistered security" under federal securities law.

今年早些时候，美国证券交易委员会（SEC）在对Ripple的上诉中提交了开幕式摘要，认为所有XRP的销售均应算作未注册的证券。监管机构声称，波纹的营销活动和向公众的陈述旨在在购买XRP的人的心中创造利润期望，作为回报，这使代币成为联邦证券法的“未注册安全性”。

However, Ripple’s legal chief, Stuart Alderoty, downplayed these arguments, calling them "stale" and suggesting that they would be dropped by the next administration.

但是，Ripple的法律局长Stuart Alderoty轻描淡写了这些论点，称它们为“陈旧”，并暗示下一个政府将把它们撤销。

Both parties dropped appeals in March after a federal judge ruled that portions of the macroeconomic analysis in the case were inadmissible. The case began in December 2020 when the SEC sued Ripple for selling unregistered securities in a $1.3 billion fundraising effort that began in 2015.

在联邦法官裁定该案的一部分宏观经济分析是不可接受的，双方在三月份撤销了上诉。该案始于2020年12月，当时SEC在2015年开始的13亿美元筹款工作中起诉Ripple出售未注册的证券。

The judge, Judge Torres, also held that institutional sales of XRP did violate securities laws but that programmatic sales to retail customers did not. The case had major implications for the crypto industry, with the ruling on public sales having the potential to set a precedent for other blockchain projects.

法官托雷斯法官还认为，XRP的机构销售确实违反了证券法，但向零售客户的程序化销售没有。该案对加密货币行业具有重大影响，其裁决有可能为其他区块链项目设定先例。

After a year of appeals and negotiations, Ripple and the SEC finally reached a settlement agreement, with the SEC agreeing to a reduced penalty of $50 million to close its case against Ripple. The $50 million fine is part of the $125 million that was set aside in a joint stipulation by both parties in May.

经过一年的上诉和谈判，Ripple和SEC终于达成了和解协议，SEC同意减少5000万美元的罚款，以结束针对Ripple的案件。 5000万美元的罚款是五月双方共同规定的1.25亿美元的一部分。

The case began in December 2020 when the SEC sued Ripple for selling unregistered securities in a $1.3 billion fundraising effort that began in 2015. The regulator claimed that Ripple’s founders, Christian SEgar and Jed McCaleb, sold XRP to raise money for the company while promising investors that the value of XRP would increase.

该案始于2020年12月，当时SEC在2015年开始的13亿美元筹款工作中起诉Ripple出售未注册的证券。监管机构声称，Ripple的创始人Christian Segar和Jed McCaleb卖给了XRP，卖给了XRP，以向公司筹集资金，同时向公司筹集资金，同时有望增加XRP的价值。

In March, both parties dropped appeals in the case after Judge Torres ruled that portions of the macroeconomic analysis in the case were inadmissible. The case is now heading toward a final resolution, with the SEC needing to make a new request for a partial summary judgment to adjust the ruling on the $125 million penalty and the ban on sales of XRP to big investors.

3月，托雷斯法官裁定该案的宏观经济分析的一部分是不可接受的，双方在此案中撤销了上诉。该案现在正朝着最终决议迈进，SEC需要提出新的要求进行部分简易判决，以调整对1.25亿美元罚款的裁决，并禁止XRP向大投资者销售。

The SEC will need to clearly show that lifting the ban on XRP sales and lowering the penalty will benefit both big investors and the public. Only then will Judge Torres grant the request, which is a common practice in cases like this.

SEC将需要清楚地表明，取消对XRP销售的禁令并降低罚款将使大型投资者和公众受益。只有这样，托雷斯法官才会授予该请求，这在这种情况下是一个普遍的做法。

Investors are now awaiting the SEC’s next move, which could come as early as this week with a closed SEC meeting set for Thursday, May 22. A favorable ruling could also clear up things for an XRP ETF, which has been a hot topic of discussion in recent months. As the case progresses, it will be interesting to see how Judge Torres's decision impacts the future of crypto regulation in the U.S.

投资者现在正在等待SEC的下一步行动，该行动可能早在本周举行的SEC会议上，将于5月22日星期四举行。有利的裁决也可以清除XRP ETF的事情，这是最近几个月来讨论的热门话题。随着案件的进行，有趣的是，托雷斯法官的决定如何影响美国加密监管的未来