Court slashed SEC's demand by about 94%, marking big win for Ripple and entire crypto industry
In the SEC lawsuit, Judge Torres has ordered that Ripple pays $125 million in civil penalties, a fraction of the fines the SEC had sought, putting an end to the nearly four-year legal battle it fought with the U.S. regulator.
Judge Torres determined last July that XRP was subject to securities law only when offered to institutional investors. The SEC had sought nearly $2 billion in fines, but Ripple argued it should not have to pay more than $10 million.
Per the ruling issued, the Court does not presently hold that Ripple’s post-complaint sales have violated Section 5, hence a generic injunction was issued to stop any further violation of security laws.
Do you see what's happening?
Bitcoin ETFs approved earlier this year, becoming the fastest growing ETF of all time...
Ethereum ETFs approved a few weeks ago...
XRP wins their lawsuit of four years against the SEC, ruling they did not violate securities law...
CRYPTO IS BEING ACCEPTED AND ADOPTED RIGHT BEFORE YOUR EYES.
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