New York judge rejects joint settlement request between SEC and Ripple According to Reuters, US Southern District Federal Judge Anastasia Torres rejected a settlement motion jointly filed by Ripple Labs and the US Securities and Exchange Commission (SEC) on June 26. The motion seeks court approval to reduce the fine faced by Ripple for unregistered securities sales from $125 million to $50 million, and to revoke the previously issued permanent injunction. The judge pointed out in the ruling that both parties failed to prove the existence of "special circumstances sufficient to override the public interest and judicial administration", emphasizing that the court's final judgment has compulsory binding force.