Court Issues Final Ruling in SEC vs. Ripple Case
A federal judge has ordered Ripple to pay $125 million in civil penalties, ruling that Ripple violated securities laws in 1278 institutional sales of XRP.
The SEC initially sought a $2 billion penalty from Ripple.The court also confirmed that Ripple's sale of XRP to retail investors through exchanges did not violate securities laws.
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The SEC demanded $2 billion, but the court reduced it by 94%, acknowledging that the regulator overreached. This is a victory for Ripple, the blockchain industry, and the rule of law
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said Ripple CEO Brad Garlinghouse.AltCoin. TM
