BREAKING: Ripple to Settle $125M in Civil Penalties as SEC Lawsuit Potentially Ends
United States District Judge Analisa Torres has just ordered the global payment company Ripple to pay a $125 million civil penalty to end its lawsuit against the American regulatory watchdog, the Securities and Exchange Commission (SEC). With this ruling, XRP is no longer regarded as security, and the four-year-long lawsuit between Ripple and SEC has ended.
BREAKING: JUDGE RULES THAT @Ripple SHALL PAY $125M IN CIVIL PENALTIES AND STOP ANY FURTHER VIOLATION OF SECURITIES LAWS – SEC VS. @Ripple LEGAL BATTLE HAS ENDED pic.twitter.com/ca0JFbS0PQ
— DEGEN NEWS (@DegenerateNews) August 7, 2024
The latest ruling follows months of back-and-forth deliberation on the civil penalty pricetag. The SEC had previously insisted on a $2 billion fine. However, the payment company opposed this, requesting a $10 million fine instead.
This is a developing story…
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