Judge rules Ripple did not violate federal securities laws by selling XRP to retail investors, only fined about $125 million

Odaily Planet Daily News: Analisa Torres, a district judge in the Southern District of New York, ruled that Ripple did not violate federal securities laws by conducting programmatic sales of XRP to retail customers through a trading platform. However, Ripple's 1,278 institutional sales transactions violated securities laws and fined it $125.035 million, far less than the $1 billion in disgorgement and prejudgment interest and $900 million in civil penalties required by the SEC. While the case was still under trial, the SEC tried to appeal this part of the ruling but failed. On Wednesday, Judge Torres also banned Ripple from violating federal securities laws in the future. She said that although she did not judge that Ripple had violated any laws after the SEC filed a lawsuit, it was likely that it had "crossed the line" in terms of its "On-Demand Liquidity (ODL)" product. The injunction document requires that if Ripple intends to sell any securities, it must submit a registration statement. (CoinDesk)