SEC 與 Ripple 訴訟接近尾聲，XRP 的命運不確定

在正在進行的 SEC v. Ripple 案中，SEC 於 3 月 26 日提交了與補救措施相關的開庭簡報，認為 Ripple 在 2020 年投訴後違反了《證券法》。 Ripple 必須在 4 月 22 日之前提交反對意見書，結果可能會對出售未註冊 XRP 的處罰產生重大影響。儘管美國證券交易委員會做出了不利的裁決，但美國證券交易委員會對 XRP 程序化銷售裁決的上訴計劃仍然是 Ripple 面臨的持續阻力。

SEC vs. Ripple Lawsuit Nears Culmination, Impacts Ripple's Future Uncertain

美國證券交易委員會 (SEC) 與 Ripple 訴訟接近高潮，Ripple 的未來充滿不確定性

In a significant development in the ongoing legal battle between the United States Securities and Exchange Commission (SEC) and Ripple Labs, the SEC has filed a redacted version of its remedy-related opening brief. This filing signifies the final stage of the lawsuit, which has been closely watched by the cryptocurrency industry and legal experts.

美國證券交易委員會 (SEC) 和 Ripple Labs 之間正在進行的法律鬥爭取得了重大進展，SEC 提交了一份經過修訂的與補救措施相關的開庭簡報。此次立案標誌著訴訟進入最後階段，受到加密貨幣產業和法律專家的密切關注。

The SEC's brief contends that Ripple violated the Securities Act of 1933 by continuing to sell unregistered XRP tokens after the SEC filed its complaint in December 2020. Ripple is now required to submit an opposition brief to the SEC's remedy proposal by April 22, followed by a redacted version on April 24.

SEC 的簡報稱，Ripple 在2020 年12 月提交投訴後繼續銷售未註冊的XRP 代幣，違反了1933 年《證券法》。Ripple 現在需要在4 月22 日之前針對SEC 的補救提案提交反對簡​​報，隨後提交一份反對簡報4 月 24 日修訂版本。

The upcoming filings will hold critical implications for Ripple. The April 22 filing could potentially determine the size of any penalty imposed on Ripple for selling unregistered XRP to institutional investors. Ripple must present evidence that it did not engage in such sales after the December 2020 complaint.

即將提交的文件將對 Ripple 產生重大影響。 4 月 22 日提交的文件可能會決定 Ripple 因向機構投資者出售未註冊的 XRP 而受到的處罰金額。 Ripple 必須提供證據證明其在 2020 年 12 月投訴後並未從事此類銷售活動。

A failure to demonstrate that all XRP sales were directed exclusively to non-U.S. institutional investors could expose Ripple to a hefty $2 billion penalty. Furthermore, an adverse ruling could significantly hinder Ripple's business operations in the United States.

如果未能證明所有 XRP 銷售均專門針對非美國機構投資者，Ripple 可能會面臨 20 億美元的巨額罰款。此外，不利的裁決可能會嚴重阻礙 Ripple 在美國的業務運作。

Adding to the uncertainty surrounding the lawsuit, the SEC also plans to appeal Judge Analisa Torres's July 2023 ruling on the programmatic sales of XRP. In her ruling, Judge Torres determined that such sales do not meet the criteria for a securities transaction under the Howey Test.

除了訴訟的不確定性之外，SEC 還計劃對法官 Analisa Torres 2023 年 7 月關於 XRP 程序化銷售的裁決提出上訴。托雷斯法官在裁決中認定，此類銷售不符合豪伊測試下的證券交易標準。

Despite the SEC's motion for an interlocutory appeal being rejected by Judge Torres in October, the SEC intends to pursue an appeal once the SEC vs. Ripple case concludes.

儘管 SEC 的中間上訴動議於 10 月被托雷斯法官駁回，但 SEC 仍打算在 SEC 訴 Ripple 案件結束後提起上訴。

The ongoing legal saga has cast a shadow over Ripple's future. The company's ability to operate smoothly in the United States, as well as the potential for substantial penalties, hinges on the outcome of the case.

持續不斷的法律糾紛給 Ripple 的未來蒙上了陰影。該公司在美國能否順利運作以及是否可能受到巨額處罰，取決於案件的結果。

While the immediate future remains uncertain, the culmination of the SEC vs. Ripple lawsuit will undoubtedly shape the regulatory landscape for cryptocurrencies and set precedents for the industry moving forward.

儘管近期的未來仍不確定，但 SEC 與 Ripple 訴訟的高潮無疑將塑造加密貨幣的監管格局，並為該行業的發展樹立先例。