Million

Fine

Nexera

<ul>
 <li>At the time of writing, XRP is trading at $0.6024, up 18.15% in the last 24 hours.</li>
 <li>Ripple will be fined $125,035,150 and the court will issue a final judgment.</li>
</ul>
A court filing states that Ripple was fined $125 million as a result of its ongoing action with the U.S Securities and Exchange Commission (SEC). At the time of writing, XRP is trading at $0.6024, up 18.15% in the last 24 hours as per data from <a href="http://coinmarketcap.com" target="_blank" rel="noopener noreferrer nofollow">CMC</a>.
According to the filing signed by New York Judge Analisa Torres, the <a href="http://sec.gov" target="_blank" rel="noopener noreferrer nofollow">SEC’s</a> request for remedies and the entry of final judgment was partially granted and partially refused. Ripple will be fined $125,035,150 and the court will issue a final judgment prohibiting future breaches of the securities laws.
While speaking in July, <a href="http://ripple.com" target="_blank" rel="noopener noreferrer nofollow">Ripple</a> CEO Brad Garlinghouse predicted that the company’s remaining legal matters will be resolved “very soon.” The SEC claimed in 2020 that Ripple raised $1.3 billion via the sale of XRP, an unregistered securities, and charged the company with the crime.
<h3 class="wp-block-heading" id="h-slap-on-the-wrist">Slap on the Wrist</h3>
Since Ripple used a blind bid method for certain of its <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP</a> transactions (known as programmatic). Judge Torres determined over a year ago that these sales did not break securities laws. On the other hand, she determined that further token sales to institutional investors constituted securities.
The SEC had requested a $2 billion punishment, but Ripple has offered a lesser amount. It ought to be closer to $10 million, according to Ripple. However, in a May filing, the SEC characterized Ripple’s proposed penalty as a “slap on the wrist.” Despite the fact that it was larger than its own. On Wednesday, Judge Torres also issued a ruling ordering Ripple to refrain from future violations of securities regulations.
Concerning the potential liability of Garlinghouse and co-founder Chris Larsen for their roles in unlawful securities sales, the SEC sought dismissal of their complaint against them in October.
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Ripple Faces $125 Million Fine in Ongoing Lawsuit with U.S SEC

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