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The ongoing lawsuit between the SEC and Ripple has been partially concluded. The court has ruled that Ripple will pay $125 million in bail.
The lawsuit I have been waiting for 4 years in the cryptocurrency world has been concluded. The court was required to pay $125 million in bail to Ripple in the SEC’s lawsuit over Ripple’s XRP token.
Ripple has been fined $125 million as part of its long-running legal battle with the U.S. Securities and Exchange Commission (SEC), according to a recent court filing. “The SEC’s request for relief and entry of the final judgment are granted in part and denied,” Judge Analisa Torres said in her decision. The court will issue a final ruling that includes an injunction preventing Ripple from further violating securities laws and a global civil penalty of $125,035,150.
Ripple CEO Brad Garlinghouse had previously stated in July that he expected the remaining legal proceedings to proceed quickly.