由硬幣版

美國證券交易委員會（SEC）已駁回了針對加密公司Kraken，Consensys和Cumberland Drw LLC的執法行動。

The U.S. Securities and Exchange Commission (SEC) has dismissed its planned enforcement actions against several crypto firms, including Kraken, ConsenSys, and Cumberland DRW LLC. These cases were dropped via joint stipulations filed “with prejudice,” meaning the agency cannot refile the same claims later.

美國證券交易委員會（SEC）駁回了針對包括Kraken，Consensys和Cumberland DRW LLC在內的多家加密公司的計劃執法行動。這些案件是通過“有偏見”提出的聯合規定刪除的，這意味著該機構稍後不能對同一索賠進行補償。

These moves appear part of a broader regulatory shift observed in recent times, particularly following the Donald Trump administration, which previously saw cases dropped against Coinbase, Robinhood, Uniswap Labs, and OpenSea.

這些舉動似乎是最近觀察到的更廣泛的監管轉變的一部分，尤其是在唐納德·特朗普政府之後，此前案件以前看到案件對Coinbase，Robinhood，Uniswap Labs和Opensea撤銷。

However, one prominent name was absent from this latest list of dismissals: Ripple. Despite Ripple achieving its own recent positive legal developments, the fintech firm’s long-standing SEC battle remains formally unresolved, unlike these others.

但是，最新的解僱清單中沒有一個突出的名字：Ripple。儘管Ripple實現了自己最近的積極法律發展，但與其他人不同，這家金融科技公司長期以來的SEC戰鬥仍未得到正式解決。

“No @Ripple here but I’m not entirely surprised because, again, it is slightly different to these other cases in that (as @s_alderoty mentioned in his post) the SEC now has to go to the Southern District and ask Judge Torres to lift the standard injunction. Once that is done, they can formally close out the case.”

“這裡沒有@ripple，但我並不完全感到驚訝，因為同樣，它與這些其他案件略有不同（正如他的帖子中提到的@s_alderoty）現在必須去南部地區，並要求托雷斯法官舉起標準禁令。一旦完成，他們就可以正式關閉案件。”

The crypto behemoth’s legal conflict with the SEC dates back to 2020. At that time, the agency accused the company of raising $1.3 billion through unregistered securities offerings by selling its XRP token.

加密龐然大物與SEC的法律衝突可以追溯到2020年。當時，該機構指責該公司通過出售其XRP代幣通過未註冊的證券產品籌集了13億美元。

Following lengthy court proceedings, a key ruling came in 2023 from a U.S. District Judge who found that Ripple’s XRP sales to retail investors on exchanges did not violate securities laws. However, the judge determined that $728 million worth of direct XRP sales to institutional investors did constitute unregistered offerings, initially leading to a significant penalty phase.

在漫長的法院訴訟之後，2023年起了一項關鍵裁決，該裁決來自美國地方法院法官，他發現Ripple在交易所進行零售投資者的XRP銷售並未違反證券法。但是，法官認為，向機構投資者的價值7.28億美元的直接XRP銷售確實構成了未註冊的產品，最初導致了重大的罰款階段。

More recently, further progress occurred on March 19, 2025, when the SEC dropped its planned appeal against parts of that 2023 ruling. As part of a final settlement related to the institutional sales finding, Ripple also successfully recovered $75 million of the initially proposed $150 million fine amount, reducing its final payment obligation to $50 million.

最近，進一步的進展發生在2025年3月19日，當SEC對2023年裁決的部分地區提出上訴。作為與機構銷售發現有關的最終解決方案的一部分，Ripple還成功地收回了最初提議的1.5億美元罰款金額中的7500萬美元，將其最終付款義務減少到5000萬美元。

Commenting on this outcome, Ripple’s chief legal officer, Stuart Alderoty, described it as a "huge win."

Ripple的首席法律官Stuart Alderoty在評論這一結果時將其描述為“巨大的勝利”。

Despite this settlement and the SEC dropping its appeal, the agency has not yet formally withdrawn its entire case against Ripple in the same “with prejudice” manner it used for closing the claims against Kraken and the others.

儘管達成和解並撤銷了上訴，但該機構尚未正式撤回其針對Ripple的全部案件，其“以偏見”方式與Kraken和其他人結束索賠。

As FOX Business' Eleanor Terrett explains, there is a key procedural difference. Before the SEC can fully and formally withdraw its original claims against Ripple, the agency must first navigate specific steps within the Southern District of New York (SDNY).

正如Fox Business的Eleanor Terrett所解釋的那樣，存在關鍵的程序差異。在SEC可以完全並正式撤回其針對Ripple的原始主張之前，該機構必須首先在紐約南部地區（SDNY）內駕駛特定步驟。

Specifically, the SEC needs to request that Judge Analisa Torres lift the standard injunction previously placed against Ripple related to those institutional sales. After that injunction is potentially lifted by the court, the SEC commissioners can then formally vote to close out the case.

具體而言，SEC需要要求Analisa Torres法官取消以前針對與機構銷售相關的波紋的標準禁令。在該禁令有可能由法院取消，SEC委員可以正式投票通過結案。