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.
Related
![](https://static.aicoinstorge.com/attachment/article/20240808/172310771333439.jpg)
Tue, 05/07/2024 - 11:30Ripple Lawsuit: SEC Drops Pivotal Filing, Here's What Might Follow
![](https://static.aicoinstorge.com/attachment/article/20240808/172310771333439.jpg)
Tomiwabold Olajide
HOT Stories 'Big Win for Ripple,' XRP Lawyer Celebrates Historic End of SEC LawsuitRipple CEO Reacts to Court's Final JudgementWill Bitcoin (BTC) Drop More? Solana (SOL) Destroys Ethereum, Hits ATH, Shiba Inu (SHIB) Comeback HaltedRipple Ordered to Pay Massive Penalties: Details
Judge Torres also refused the SEC's request for Ripple to disgorge profits from sales. The regulator sought over $876 million in disgorgement, over $198 million in interest and a $876 million civil penalty.
The Judge stated that the case "does not involve allegations of fraud, misappropriation, or other more culpable conduct" and that the SEC had not proved that Ripple's failure to register the sales with the agency resulted in significant losses for investors.
Ripple CEO Brad Garlinghouse highlighted the ruling as a victory for Ripple and the crypto industry as the court slashed the SEC’s demand by about 94%. XRP soared as much as 25% after the ruling.
XRP community reacts
Pro-XRP lawyer Jeremy Hogan took to X to celebrate the historic ending of the protracted Ripple SEC lawsuit, noting it as a "big win for Ripple."
IT'S OVER! The SEC v Ripple case has been quite a journey - thanks for sharing it with me.
$125 Million penalty and a GENERIC injunction Order.
This is a BIG win for Ripple, no doubt about it. Have a Wonderful Day! https://t.co/hCZZYsMl7E pic.twitter.com/7uuuwsx0Dw
Hogan shared a screenshot of a part of the ruling that touches on ODL sales, noting in a separate tweet that the judge did not give the SEC "the ODL language" it wanted.
Ripple argued a part of the proposed judgment, which enjoins it from "conducting an unregistered offering of institutional sales," should be altered to clarify that "it does not bar ODL sales, does not bar extraterritorial conduct and does not bar sales that qualify for exemptions from registration."
Related
![](https://static.aicoinstorge.com/attachment/article/20240808/172310771368525.jpg)
Sat, 12/16/2023 - 10:31Ripple: Epic 2024 Forecast After SEC Lawsuit
![](https://static.aicoinstorge.com/attachment/article/20240808/172310771368525.jpg)
Tomiwabold Olajide
The court agreed "that the SEC's proposed language is too categorical and in any case, duplicative of behavior proscribed by part of the proposed judgement. The court will, therefore, omit the SEC's proposed part II."
Hogan believes that the injunction issued in the ruling does not change the status quo for ODL sales as the judge's denial of the SEC's language boosts Ripple's argument that there can be no expectation of profits when the XRP is only held for a second.
免责声明:本文章仅代表作者个人观点,不代表本平台的立场和观点。本文章仅供信息分享,不构成对任何人的任何投资建议。用户与作者之间的任何争议,与本平台无关。如网页中刊载的文章或图片涉及侵权,请提供相关的权利证明和身份证明发送邮件到support@aicoin.com,本平台相关工作人员将会进行核查。