Reported 2 months ago
Ripple Labs Inc. has been ordered to pay a $125 million civil penalty for the improper sale of its XRP token, significantly less than the nearly $2 billion the SEC initially sought. The ruling from U.S. District Judge Analisa Torres noted that the case did not involve fraud claims and highlighted that XRP was deemed a security only when sold to institutional investors. Ripple's CEO hailed the decision as a victory for the cryptocurrency industry, suggesting it could signal an end to rigorous SEC enforcement actions against crypto.
Source: YAHOO