cryptopotato.com
Ripple has been fined $125 million in the lawsuit against the United States Securities and Exchange Commission. This is just a fraction of what the SEC had previously asked for in the case.
The fine that Judge Analisa Torres settled on is far less than the $1 billion in disgorgement and prejudgment interest and $900 million in civil penalty the SEC sought.
$XRP investors have seen this as a positive for the firm and the cryptocurrency, which exploded by more than 20% immediately after the news broke.
“The SEC’s motion for remedies and the entry of final judgment is granted in part and denied in part. […] The Court shall enter a final judgment enjoining Ripple from further violations of the securities laws and imposing a civil penalty of $125,035,150.” – Reads the filing.
Meanwhile, it’s worth noting that back in July 2023, Judge Torres found that the programmatic sales of $XRP to retail clients through centralized exchanges did not violate securities laws. However, she did rule that Ripple violated securities regulations through its direct sale of $XRP to institutional clients, hence the above statement.
Judge Torres also banned the company from future violations.