🤑 Ripple Ordered to Pay $125M in SEC Case, Claims Victory
🔔 A federal judge has ordered Ripple Labs to pay a $125 million civil penalty in its ongoing case with the SEC, along with an injunction against future securities law violations. This fine is significantly less than the $2 billion penalty proposed by the SEC.
▶️ Ripple CEO Brad Garlinghouse views this as a "victory for Ripple, the industry and the rule of law," highlighting that the court reduced the SEC's proposed penalty by 94%. The ruling appears to be nearing the final stages of Ripple's legal battle with the SEC, which began in December 2020.
📈 This development could have significant implications for the broader crypto industry and regulatory landscape. The market responded favorably, with XRP's price surging 24% following the announcement.
