The SEC is expected to appeal a decision ordering Ripple to pay $125 million and prohibiting future violations of securities laws.
Ripple's lawsuit against the SEC is expected to continue as the SEC is expected to appeal a ruling that ordered #Ripple to pay a $125 million fine and be barred from future securities law violations.
According to CoinDesk, the SEC will appeal a previous ruling that fined Ripple and barred it from future securities law violations. In light of that appeal, Ripple's case could be extended.
On Wednesday, a federal judge ordered Ripple to pay a $125 million civil penalty and prohibit further violations of securities laws.
The fine is significantly less than the SEC's original request for $1 billion in damages and prejudgment interest, as well as $900 million in civil penalties. The #XRP exchange rate #rose about 20% after a judge issued a landmark ruling in the protracted legal battle between Ripple and the Securities and Exchange Commission.
After the ruling, Ripple CEO Brad Garlinghouse said on X (formerly Twitter):
"We respect the court's decision and are committed to continuing to grow our company.
Last week, CoinCu reported that Garlinghouse had something to say, accusing the SEC of being "hypocritical" and unevenly applying the rules.
Garlinghouse's comments on social media platform X seem to contradict SEC Chairman Gary Gensler, who said the SEC's goal is to clarify regulatory rules. According to Garlinghouse, the SEC's actions are political rather than regulatory in nature.
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