Court Orders Ripple to Pay $125 Million to the SEC

Source Livebitcoinnews

Judge Analisa Torres of the US District Court for the Southern District of New York has ordered Ripple to pay $125 million to the US Securities and Exchange Commission (SEC) on August 7. The firm must make the transaction within 30 days of its judgment. Ripple had previously argued that the fine must not exceed $10 million as the SEC demanded $2 billion.

A court filing mentioned that “Ripple is liable for a civil penalty in the amount of $125,035,150 pursuant to Section 20(d) of the Securities Act.” It added, “Defendant shall satisfy this obligation by paying $125,035,150 to the Securities and Exchange Commission within 30 days after entry of this Final Judgment.”

Furthermore, the judgment prevents Ripple from breaking securities laws henceforth. “Ripple Labs, Inc., is permanently restrained and enjoined from violating Section 5 of the Securities Act.” While the judge has declared the SEC’s allegations about Ripple selling unregistered securities not binding, she feels that the firm pushes the lines while selling its XRP tokens. That warrants her to believe Ripple may operate beyond the bounds of the Securities Act if appropriate restrictions are not set.

Nevertheless, Ripple’s founder, Brad Garlinghouse, celebrated the court’s decision. He wrote on X, “The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.” The post continued, “This is a victory for Ripple, the industry and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone.”

Stuart Alderoty, Ripple’s chief legal officer, also posted about the court’s decision on X. They said, “The Court rejects the SEC’s suggestion that Ripple acted recklessly and she reminds the SEC that this case did not involve any allegations of fraud or intentional wrongdoing, and no one suffered any financial harm.”

XRP saw a 26% gain on August 7 as news broke of the judgment.

 

The post Court Orders Ripple to Pay $125 Million to the SEC appeared first on Live Bitcoin News.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Nvidia stock sinks 4% as Trump’s tariff plans rattle AI tradeNvidia shares fell over 4% early Monday after US President Donald Trump delivered a stern message about trade tariffs. Trump said on Sunday that no country would be given any special treatment regarding tariffs. He also signed new trade policies into effect on April 2, which he calls “Liberation Day.” This frightened investors, who had […]
Author  NewsBTC
Apr 01, Tue
Nvidia shares fell over 4% early Monday after US President Donald Trump delivered a stern message about trade tariffs. Trump said on Sunday that no country would be given any special treatment regarding tariffs. He also signed new trade policies into effect on April 2, which he calls “Liberation Day.” This frightened investors, who had […]
placeholder
Bitcoin Price Bounces Back—Can It Finally Break Resistance?Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone. Bitcoin started a decent recovery wave above the $83,500
Author  NewsBTC
23 hours ago
Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone. Bitcoin started a decent recovery wave above the $83,500
placeholder
Bitcoin Price Struggling but Short-Term Holders Might Be Setting the Stage for $150KBitcoin has recently displayed signs of upward momentum, trading at $85,215, marking a 2.2% increase in just the past day. Despite this short-term gain, the asset remains down by over 21.2% from its
Author  NewsBTC
18 hours ago
Bitcoin has recently displayed signs of upward momentum, trading at $85,215, marking a 2.2% increase in just the past day. Despite this short-term gain, the asset remains down by over 21.2% from its
placeholder
U.S. March Nonfarm Payroll Preview: Even If Data Aligns with Expectations, Financial Markets May Not Escape the Fate of VolatilityOn 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
Author  TradingKey
18 hours ago
On 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
placeholder
Gold price stabilizes ahead of Trump's tariffs announcement on “Liberation Day”Gold price (XAU/USD) stabilizes just above $3,130 at the time of writing on Wednesday following a mean reversal move the prior day after a fresh all-time high got eked out at $3,149 before closing in negative territory.
Author  FXStreet
17 hours ago
Gold price (XAU/USD) stabilizes just above $3,130 at the time of writing on Wednesday following a mean reversal move the prior day after a fresh all-time high got eked out at $3,149 before closing in negative territory.
goTop
quote