In a court filing on Wednesday, Judge Analisa Torres ruled that Ripple Labs would pay a $125 million civil penalties fine and stop further violations of securities laws.
Ripple to pay $125 million fine in civil penalties, rules Judge. The Judge also banned Ripple from breaking securities laws in the future. XRP skyrocketed by 20% after the ruling despite wider market dump. In a court filing on Wednesday, Judge Analisa Torres ruled that Ripple Labs would pay a $125 million civil penalties fine and banned the company from future violations of securities laws.
Crypto community members are debating whether or not the SEC would appeal the ruling, considering the fine on Ripple is far from its request of $1 billion in disgorgement and prejudgment interest, and $900 million in civil penalty. Ripple banned from breaking securities laws Judge Torres also banned Ripple from violating securities laws in the future, as she stated that the company has the potential to cross the line.
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