There has been a new development in the long-running case between Ripple and the U.S. Securities and Exchange Commission (SEC). The $50 million settlement request submitted by both parties was rejected by Judge Analisa Torres on procedural grounds.

Judge Torres denied the parties’ motion for an indicative ruling, finding it “procedurally flawed,” according to attorney James K. Filan. Torres said he had no jurisdiction to intervene in the case at this time because the appeals process is ongoing, and that he would deny the motion even if the court were to remand jurisdiction.