Ripple has been ordered to pay a fine of $125 million in a years-long lawsuit with the U.S. Securities and Exchange Commission (SEC).

Court Decision and Sentence

“The SEC’s motions for relief and final judgment are granted in part and denied in part. The court will enter a final judgment enjoining Ripple from continuing to violate the securities laws and imposing a civil penalty of $125,035,150,” according to the court filing signed by Judge Analisa Torres of New York.

With the end of the fight between SEC and Ripple, the XRP price has risen above $0.60 again.

Background to the Case

Ripple CEO Brad Garlinghouse said in July that he hoped the ongoing legal proceedings would be resolved “very soon.” In 2020, the SEC accused Ripple of raising funds by selling $1.3 billion worth of unregistered securities.

Last year, Judge Torres ruled that Ripple’s regular sales of XRP did not violate securities laws, but noted that direct sales to institutional investors were securities.

The fine imposed on Ripple fell short of the $2 billion penalty the SEC had recommended. Ripple had argued that the fine should be closer to $10 million.

Court Decision and Ripple’s Reaction

On Wednesday, Judge Torres ordered Ripple to stop violating securities laws in the future. “The Court does not state today that Ripple’s post-Complaint sales violate Section 5. However, Ripple’s willingness to push the envelope suggests that they will or have already exceeded those boundaries,” Torres said.

“Overall, the Court finds that there is a reasonable probability of future violations and therefore justifies the issuance of an injunction,” Torres added.

Ripple CEO Garlinghouse stated that they respected the decision and shared, “The SEC requested $2 billion and the Court agreed that they overdid it by reducing their request by 94%.”

“We respect the court’s decision and have the clarity to continue growing our company. This is a victory for Ripple, the industry, and the rule of law. The SEC’s attacks on the XRP community are over,” Garlinghouse said.

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