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<div>Ripple: Judge's settlement rejection has no effect on legal victory</div>

Ripple’s legal chief said a US court’s rejection of a proposed XRP settlement with the Securities and Exchange Commission (SEC) does not pose a threat to Ripple’s win.

Judge Analisa Torres of the US District Court for the Southern District of New York rejected a joint Ripple-SEC motion seeking an indicative ruling on their proposed settlement, according to a filing on May 15.

Ripple’s chief legal officer, Stuart Alderoty, said the rejection does not reverse the company’s victory in the case. The company announced the end of the lawsuit on March 19.

Ripple: Judge's settlement rejection has no effect on legal victory
Source: Stuart Alderoty

Alderoty stressed that the latest court decision does not change the fact that XRP (XRP) is not a security, adding that the rejection is related to “procedural concerns with the dismissal of Ripple’s cross-appeal.”

Why did the court refuse to grant the ruling?

According to the court document, Torres denied the motion as “procedurally improper” since the SEC and Ripple failed to file the correct procedural motion to support the proposed settlement.

“By styling their motion as one for ‘settlement approval,’ the parties fail to address the heavy burden they must overcome to vacate the injunction and substantially reduce the civil penalty,” the Judge wrote.

Ripple: Judge's settlement rejection has no effect on legal victory
An excerpt from the court’s rejection of the SEC-Ripple motion on May 15, 2025. Source: Courtlistener

The SEC and Ripple agreed to lower the court’s $125 million fine days before Ripple CEO Brad Garlinghouse announced the end of the case. Subsequently, Alderoty disclosed on X that the SEC will keep $50 million of the $125 million fine.

“The parties have made no effort to satisfy that burden here; their request does not even mention the Rule,” the court document stated.

Community asks for explanation

As Alderoty has not provided any details on the nature of procedural concerns by the court, but assured the public that Ripple and the SEC are “fully in agreement to resolve the case,” many in the community were unhappy with the lack of specifics from Ripple.

“First, in a recent post about this case, you said you would not be making any more X posts because the case was closed,” one XRP observer responded to Alderoty in the X thread.

Ripple: Judge's settlement rejection has no effect on legal victory
Source: X thread from Stuart Alderoty

“Second, I don’t think it’s enough to just say that it’s procedural. I think further explanation of what went wrong in the filing is needed,” one XRP observer wrote in an X thread,” the post continued.

Related: Ripple commits $25M to US school nonprofits

“Let’s remember that both he and Brad said the case was over, and it still isn’t; they’re cheating us a little,” another user speculated.

The news came shortly after online reports suggested that US President Donald Trump was allegedly manipulated by a Ripple-linked lobbyist into announcing the XRP token would be part of his plans for a national cryptocurrency reserve.

Many in the Bitcoin (BTC) community have been slamming Ripple for advocating for a multi-coin strategic reserve, instead of a Bitcoin-only reserve.

Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

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Conservative Party pledges £1.6bn ICE-style ‘removals force’ to detain and deport illegal migrants

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Conservative Party pledges £1.6bn ICE-style 'removals force' to detain and deport illegal migrants

The Conservatives are pledging to create a new “removals force” to detain and remove 150,000 a year as part of a broad plan to tackle illegal immigration to the UK.

Modelled on the “successful approach” of the US Immigrations and Customs Enforcement (ICE) agency, this new force would be given “sweeping new powers”, and over £1bn in new funding.

The pledge is part of the Conservative Party’s broad new plans to stop illegal migration to the UK, set to be unveiled by Kemi Badenoch on the first day of their annual conference on Sunday, where reducing immigration and creating “Strong Borders” will be one of the key themes.

The new “Removals Force” that she will unveil will replace the existing Home Office Immigration Enforcement (IE) and will be given broad new powers, including being able to use facial recognition without warning in order to spot illegal immigrants.

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Sam and Anne discuss how comments made by their leader will be received by Conservatives ahead of their conference.

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It will be given funding of £1.6bn a year, up from the existing £820 million a year, to increase the number of removals annually from 34,000 to 150,000 – which would represent “at least 750,000 removals” across a five-year parliament.

The Tories say this increase in funding would come from the closure of asylum hotels and “tackling the wider costs of our out-of-control asylum system”.

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However, ICE in the US has been heavily criticised by politicians and the public in recent months, with the agency accused of arresting both legal migrants and US citizens and targeting people based on their race.

Expanding the use of live facial recognition technology is also likely to attract criticism from within the Tory party itself, on the grounds of it being a threat to individual freedom and privacy.

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Sky News’ Mark Stone speaks to an undocumented migrant living in fear of detention and deportation in the US.

Tories to withdraw from multiple conventions

In addition to confirming plans to leave the European Convention on Human Rights (ECHR), announced on Saturday, Ms Badenoch will also vow to fully repeal the Human Rights Act, and leave the Council of Europe Convention on Action Against Trafficking in Human Beings.

This, the Tories say, would “end the legal blocks that allow illegal immigrants, and in some cases foreign criminals, to stay in the UK based on flimsy claims”.

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The clamour from the right for the UK to withdraw from the European Convention on Human Rights has been growing – would it make a difference?

A radical overhaul of the asylum system would see refugee status granted only to those threatened by a foreign government, and those fleeing conflict or “less tolerant” laws on religion or sexuality would not be eligible, with the party saying “few people will qualify”.

The plan will also see the immigration tribunal abolished, with all decisions on migration taken by the Home Office with only limited rights of appeal in cases where officials have acted without statutory authority.

Immigration cases will be denied legal aid, with the Tories accusing solicitors of having “defrauded” the UK by “coaching” applicants and arguing there is “no need for lawyers” as people “should simply tell the truth about their circumstances”.

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Prime minister rules out leaving ECHR

‘Labour is fixing the Tories’ mess’

The plans come as Ms Badenoch faces continued pressure on her right flank from Reform UK, which has already pledged to leave the ECHR and deport up to 600,000 people over five years if it comes to power.

But the party leader said the plans put forward by Nigel Farage’s party are “nothing but announcements that fall apart on arrivals”.

She also said the Labour government offers “failed gimmicks”, adding: “Our Stronger Borders plan is serious and credible and backed by a comprehensive legal analysis. That is the difference the next Conservative government will deliver.”

A Labour Party spokesperson said: “The Conservatives’ message on immigration is: we got everything wrong, we won’t apologise, now trust us.

“It won’t wash – Kemi Badenoch’s party enabled record high net migration as removals plummeted, opened over 400 asylum hotels and wasted £700 million of taxpayers’ money to send just four volunteers to Rwanda.

“This Labour government is fixing the Tories’ mess by smashing the people-smuggling gangs running the vile small boats trade, closing asylum hotels, deporting foreign criminals and signing international returns deals to bring order to Britain’s borders.”

Hear more about the plans from shadow home secretary Chris Philp, live at the Conservative Party Conference in Manchester on Sunday Morning With Trevor Phillips from 8.30am.

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Bankman-Fried says his biggest mistake was handing FTX to new CEO before bankruptcy

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Bankman-Fried says his biggest mistake was handing FTX to new CEO before bankruptcy

Bankman-Fried says his biggest mistake was handing FTX to new CEO before bankruptcy

Sam Bankman-Fried claimed that handing over FTX to its current CEO was the “single biggest mistake” that prevented him from saving the exchange.

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Kemi Badenoch says Tories will quit ECHR if they win next election

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Kemi Badenoch says Tories will quit ECHR if they win next election

The Conservative Party will leave a key human rights treaty if it wins the election, its leader Kemi Badenoch has said.

Ms Badenoch announced the policy to leave the European Convention on Human Rights (ECHR) ahead of the Conservative Party’s conference next week.

Despite many Tory MPs having expressed displeasure with the treaty, and the court that upholds treaty rights in recent years, it had not been party policy for the UK to exit it.

The move follows a review on the impact of the UK’s ECHR membership conducted by shadow attorney general Baron Wolfson.

Lord Wolfson’s nearly 200-page report said the ECHR had impacted government policy in numerous areas.

The report said this includes limiting government’s ability to address immigration issues, potentially hampering restrictions on climate change policy, and impacting government ability to prioritise British citizens for social housing and public services.

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But leaving the ECHR would “not be a panacea to all the issues that have arisen in recent years”, Lord Wolfson said.

It comes after the Reform Party in August said they would take the UK out of the ECHR if elected.

The Conservatives have increasingly come under threat from Reform and are being trailed in the polls by them.

What is the ECHR?

The ECHR was established in the 1950s, drafted in the aftermath of the Second World War and the Holocaust, to protect people from serious human rights violations, with Sir Winston Churchill as a driving force.

It’s 18 sections guarantee rights such as the right to life, the prohibition of torture, the right to a fair trial, the right to private and family life and the right to freedom of expression.

It has been used to halt the deportation of migrants in 13 out of 29 UK cases since 1980.

Conservative Party leader Kemi Badenoch. Pic: PA
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Conservative Party leader Kemi Badenoch. Pic: PA

A political issue

Leaving the ECHR would breach the 1998 Good Friday Agreement, the peace settlement deal between the British and Irish governments on how Northern Ireland should be governed.

Labour has in recent days said it was considering how Article 3, the prohibition on torture, and Article 8,
the right to respect for private and family life, are interpreted. The sections have been used to halt deportation attempts.

The Liberal Democrats and Greens are in favour of the ECHR.

A general election is not expected until 2029.

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