decrypt.co
A New York court on Wednesday ordered fintech company Ripple to pay a $125 million fine lawsuit with the Securities and Exchange Commission.
The civil penalty is significantly less than the $2 billion sought by the SEC, while Ripple had proposed a fine of $10 million in April.
The SEC sued Ripple Labs in 2020 for $1.3 billion over its sale of XRP, saying the company should have registered it as a security.
This is a developing story and will be updated as more information is available.