Ripple's shocking fine: $125 million! But retail sales are supported by the court
Last year, a U.S. federal court ruled that Ripple violated securities laws when selling XRP tokens to institutional investors and imposed a fine of $125 million, but confirmed that its automated sales to retail investors through exchanges were legal. On Wednesday, Ripple was forced to accept the fine and was banned from violating securities laws in the future. Judge Analisa Torres found that Ripple's 1,278 institutional transactions violated regulations, but the fine was far less than the $2 billion initially requested by the SEC.
The judge also pointed out that Ripple's "on-demand liquidity" product has potential violations and issued an injunction requiring the submission of a registration statement before future securities sales. Although the SEC has tried to appeal part of the ruling without success, the legal game between the two sides may not be over yet.
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