._Ripple Fined $125 Million for XRP Institutional Sales Violations_
A federal judge has imposed a $125 million fine on Ripple for violating federal securities laws through its institutional sales of XRP. The ruling, made by District Judge Analisa Torres, found that 1,278 institutional sale transactions breached securities regulations.
_Key Points:_
- The fine is significantly lower than the initial $1.9 billion sought by the SEC.
- The judge ruled that Ripple's programmatic sales of XRP to retail clients through exchanges did not violate federal securities laws.
- An injunction was imposed, requiring Ripple to file a registration statement if planning to sell securities in the future.
- The SEC is expected to appeal the ruling.
- The price of XRP saw a slight increase of 2% following the judgment.
_Background:_
- The SEC had previously sought $1 billion in disgorgement and prejudgment interest and $900 million in civil penalties.
- The SEC's attempt to appeal the ruling on retail sales was unsuccessful.
- Ripple had settled charges related to CEO Brad Garlinghouse and other executives after the interlocutory appeal was denied.
