Million

Ripple was fined just $125 million for institutional sales, and crypto exchange transactions were deemed legal. 
Judge Torres ended a nearly four-year legal battle with the SEC by ordering Ripple to pay a $125 million civil penalty and halt further violations of securities laws. 
The SEC had initially requested a $2 billion penalty from Ripple. 
In addition to the financial penalty, Judge Torres issued an injunction prohibiting Ripple from violating federal securities laws in the future. Although there was no judgment that Ripple violated any laws following the SEC's lawsuit, he emphasized that the risk of the company “crossing the line” in the future is significant. 
“Rather, the Court finds that Ripple's willingness to push the limits of the Order indicates the likelihood that it will eventually (if it has not already) cross the line,” Judge Torres said. “Consequently, the Court finds that the likelihood of future violations is not a reasonable possibility to warrant injunctive relief.” “He decided it was a possibility.” 
The SEC is expected to appeal the July 2023 decision as the penalty was imposed. This comes after the SEC was denied a temporary appeal by the same judge last year. 
Additionally, the SEC and Ripple reached a settlement regarding the accusations against CEO Brad Garlinghouse and other executives after the appeal was rejected. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/breaking-ripple-fined-125-million-in-sec-case-but-xrp-exchange-sales-deemed-legal/">BREAKING: Ripple Fined $125 Million in SEC Case, but XRP Exchange Sales Deemed Legal</a>

BREAKING: Ripple Fined $125 Million in SEC Case, but XRP Exchange Sales Deemed Legal

Bitcoin Sistemi EN

Other articles published on Aug 7, 2024

Solana (SOL) Whales Join New ICO That Set The Market Alight With Big Profits

Great Blockchain Numbers for Argo! BTC Go!

Cryptocurrency Artificial Superintelligence Alliance Decreases More Than 5% Within 24 hours

Bitcoin Holds Steady: Institutions Maintain Confidence Despite Market Volatility

John Lennon's Son Comments on Big Factor That Crashed Bitcoin

Crypto Market Crashes: Bitcoin Falls 16% and Ethereum Plunges 22% Amid $1B Liquidations

Join our free newsletter for daily crypto updates!