Breaking: Ripple Ordered To Pay $125 Mln Penalty In SEC Lawsuit
American blockchain payments firm Ripple Labs Inc. has been ordered by Judge Analisa Torres to pay the sum of $125,035,150 as a penalty in the long-drawn lawsuit with the United States Securities and Exchange Commission (SEC). This landmark ruling marks an end to the months of speculation in which many predicted a settlement is imminent.
Ripple Lawsuit Ruling: What Next Now?
As one of the high-profile legal battles in the past three years, this remedy’s ruling came at the right time with Ripple Labs‘ growing its business overseas. The ordered payment is lower than the $2 billion payment the SEC demanded for violation of the Federal Securities law as Ripple sold XRP to institutional investors.
It is also bigger than the $10 million Ripple argued it would pay, To observers, this is a fair ruling with growing speculations on what might come next.
This is a breaking news, please check back for updates!!!
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