Request

Fine

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    <h4 class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8"><strong>The <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.551082/gov.uscourts.nysd.551082.973.0.pdf" target="_blank" rel="noopener">fine</a>, imposed by Judge Analisa Torres, is far less than what the SEC had sought.</strong></h4> 
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<p>The SEC had requested $1 billion in disgorgement and prejudgment interest, along with $900 million in civil penalties. Let’s discover more about this news for Ripple.</p> 
<h5><strong>Ripple’s $125M Fine Less Than SEC’s Request</strong></h5> 
<p>Judge Torres’s ruling focused on Ripple’s direct sales of XRP to institutional clients. The fine specifically addresses 1,278 institutional sale transactions that were deemed non-compliant with federal law. However, the judge reiterated her previous finding that Ripple’s programmatic sales of XRP to retail clients through exchanges did not violate securities laws. This distinction is crucial as it separates Ripple’s institutional activities from its retail operations, which were deemed lawful.</p> 
<p>In addition to the financial penalty, Judge Torres issued an order banning Ripple from future violations of federal securities laws. While she did not make any new judgments about Ripple’s conduct after the <a href="https://www.altcoinbuzz.io/?s=SEC+lawsuit+ripple" target="_blank" rel="noopener">SEC’s lawsuit</a>, she did issue a caution. She warned that the company’s “on-demand liquidity” offerings could potentially cross legal boundaries. This suggests that while Ripple’s past actions were scrutinized, future activities remain under close watch.</p> 
<p><img decoding="async" class="wp-image-147782 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxdffgbdgg-267x300.jpg" alt="" width="511" height="574" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxdffgbdgg-267x300.jpg 267w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxdffgbdgg-374x420.jpg 374w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxdffgbdgg.jpg 395w" sizes="(max-width: 511px) 100vw, 511px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/LuxAlgo/status/1821278830692343850" target="_blank" rel="noopener">X</a></strong></h6> 
<p>The July 2023 ruling, which led to Wednesday’s order on remedies, clarified that Ripple’s programmatic sales to retail clients were compliant with the law. This finding is significant because it delineates between different types of transactions and their legal implications. Ripple’s institutional sales, however, were found to be problematic, leading to a substantial fine.</p> 
<p>The lower-than-expected fine indicates a partial victory for Ripple, as it avoids the more severe financial consequences initially sought by the <a href="https://www.altcoinbuzz.io/?s=SEC" target="_blank" rel="noopener">SEC</a>. Nonetheless, the ongoing scrutiny and regulatory challenges reflect the broader uncertainties and legal debates surrounding the cryptocurrency industry.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone wp-image-123700 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a></p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/ripple-fined-125m-for-institutional-xrp-sales-violation/">Ripple Fined $125M for Institutional XRP Sales Violation</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Ripple Fined $125M for Institutional XRP Sales Violation

Altcoin Buzz

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