Ripple Sentenced to $125 Million in SEC Lawsuit

On the 7th (local time), a US court ruled that Ripple, the issuer of XRP, was liable for $125 million in a lawsuit filed with the US Securities and Exchange Commission (SEC) for allegedly violating securities laws.
The company revealed that it had been fined $18.3 billion, which is 1/16 of the $2 billion the SEC had requested.
Judge Analisa Torres of the U.S. District Court for the Southern District of New York ruled that a cryptocurrency exchange had violated the terms of the XRP exchange's rules in July last year.
The sale was not a violation of the securities laws, but the court ruled that sales to institutional investors were a violation of the securities laws. In this case, Ripple was fined $100 million in civil penalties for allegedly violating the securities laws.
The case was resolved with the payment of $25 million and abstention from further securities law violations. The SEC had initially sought a $2 billion fine.
Considering this, the ruling is considered a de facto victory for Ripple. The legal battle that has lasted four years has finally come to an end, and the cryptocurrency community sees the ruling as a reversal of the SEC's one-sided regulatory administrative actions.
The ruling was shared on Twitter (formerly Twitter) through attorney James Phelan, and marks a major turning point for Ripple and the virtual currency industry.
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