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美国证券交易委员会（SEC）已驳回了针对加密公司Kraken，Consensys和Cumberland Drw LLC的执法行动。

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.

美国证券交易委员会（SEC）驳回了针对包括Kraken，Consensys和Cumberland DRW LLC在内的多家加密公司的计划执法行动。这些案件是通过“有偏见”提出的联合规定删除的，这意味着该机构稍后不能对同一索赔进行补偿。

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.

这些举动似乎是最近观察到的更广泛的监管转变的一部分，尤其是在唐纳德·特朗普政府之后，此前案件以前看到案件对Coinbase，Robinhood，Uniswap Labs和Opensea撤销。

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，最新的解雇清单中没有一个突出的名字：Ripple。尽管Ripple实现了自己最近的积极法律发展，但与其他人不同，这家金融科技公司长期以来的SEC战斗仍未得到正式解决。

“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.”

“这里没有@ripple，但我并不完全感到惊讶，因为同样，它与这些其他案件略有不同（正如他的帖子中提到的@s_alderoty）现在必须去南部地区，并要求托雷斯法官举起标准禁令。一旦完成，他们就可以正式关闭案件。”

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.

加密庞然大物与SEC的法律冲突可以追溯到2020年。当时，该机构指责该公司通过出售其XRP代币通过未注册的证券产品筹集了13亿美元。

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.

在漫长的法院诉讼之后，2023年起了一项关键裁决，该裁决来自美国地方法院法官，他发现Ripple在交易所进行零售投资者的XRP销售并未违反证券法。但是，法官认为，向机构投资者的价值7.28亿美元的直接XRP销售确实构成了未注册的产品，最初导致了重大的罚款阶段。

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，进一步的进展发生在2025年3月19日，当SEC对2023年裁决的部分地区提出上诉。作为与机构销售发现有关的最终解决方案的一部分，Ripple还成功地收回了最初提议的1.5亿美元罚款金额中的7500万美元，将其最终付款义务减少到5000万美元。

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在评论这一结果时将其描述为“巨大的胜利”。

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.

尽管达成和解并撤销了上诉，但该机构尚未正式撤回其针对Ripple的全部案件，其“以偏见”方式与Kraken和其他人结束索赔。

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所解释的那样，存在关键的程序差异。在SEC可以完全并正式撤回其针对Ripple的原始主张之前，该机构必须首先在纽约南部地区（SDNY）内驾驶特定步骤。

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.

具体而言，SEC需要要求Analisa Torres法官取消以前针对与机构销售相关的波纹的标准禁令。在该禁令有可能由法院取消，SEC委员可以正式投票通过结案。