SEC 与 Ripple 诉讼接近尾声，XRP 的命运不确定

在正在进行的 SEC 诉 Ripple 案中，SEC 于 3 月 26 日提交了与补救措施相关的开庭简报，认为 Ripple 在 2020 年投诉后违反了《证券法》。 Ripple 必须在 4 月 22 日之前提交反对意见书，结果可能会对出售未注册 XRP 的处罚产生重大影响。尽管美国证券交易委员会做出了不利的裁决，但美国证券交易委员会对 XRP 程序化销售裁决的上诉计划仍然是 Ripple 面临的持续阻力。

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

美国证券交易委员会 (SEC) 与 Ripple 诉讼接近高潮，Ripple 的未来充满不确定性

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.

美国证券交易委员会 (SEC) 和 Ripple Labs 之间正在进行的法律斗争取得了重大进展，SEC 提交了一份经过修订的与补救措施相关的开庭简报。此次立案标志着诉讼进入最后阶段，受到加密货币行业和法律专家的密切关注。

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 的简报称，Ripple 在 2020 年 12 月提交投诉后继续销售未注册的 XRP 代币，违反了 1933 年《证券法》。Ripple 现在需要在 4 月 22 日之前针对 SEC 的补救提案提交反对简报，随后提交一份反对简报4 月 24 日修订版本。

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.

即将提交的文件将对 Ripple 产生重大影响。 4 月 22 日提交的文件可能会决定 Ripple 因向机构投资者出售未注册的 XRP 而受到的处罚金额。 Ripple 必须提供证据证明其在 2020 年 12 月投诉后并未从事此类销售活动。

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.

如果未能证明所有 XRP 销售均专门针对非美国机构投资者，Ripple 可能会面临 20 亿美元的巨额罚款。此外，不利的裁决可能会严重阻碍 Ripple 在美国的业务运营。

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.

除了诉讼的不确定性之外，SEC 还计划对法官 Analisa Torres 2023 年 7 月关于 XRP 程序化销售的裁决提出上诉。托雷斯法官在裁决中认定，此类销售不符合豪伊测试下的证券交易标准。

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.

尽管 SEC 的中间上诉动议于 10 月份被托雷斯法官驳回，但 SEC 仍打算在 SEC 诉 Ripple 案件结束后提起上诉。

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.

持续不断的法律纠纷给 Ripple 的未来蒙上了阴影。该公司在美国能否顺利运营以及是否可能受到巨额处罚，取决于案件的结果。

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.

尽管近期的未来仍不确定，但 SEC 与 Ripple 诉讼的高潮无疑将塑造加密货币的监管格局，并为该行业的发展树立先例。