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It's Big & Big #news2024 About $XRP
Big News For Ripple: SEC Signals No Plans To Appeal Ruling
The US Securities and Exchange Commission (SEC) has signaled it will not appeal Wednesday’s ruling by Judge Torres in the legal battle with Ripple.
The case concluded on August 7 with the company facing a civil penalty significantly less than the SEC originally demanded.
Judge Torres’s decision mandated a $125 million civil penalty for securities violations related to sales to institutions, along with a disgorgement of $0.
This is a stark contrast to the approximately $2 billion in damages initially sought by the SEC. Additionally, an injunction was imposed to prevent further violations of Section 5 of the Securities Act.