Ripple is ordered to pay $125M for civil penalties, ending SEC suit

A judge has ordered Ripple to pay just over $125 million in civil penalties, officially ending the SEC’s lawsuit & concluding that XRP is not a security. This lawsuit has been going on for over two years. The decision puts an end to the case for good.

Today, Judge Analisa Torres reached a decision according to newly released court documents. The SEC’s fine of $125.035 is far below its $1 billion disgorgement, prejudgment interests and $900,000,000 civil penalty. Experts and people close to the case expect the SEC to appeal.

Ripple wins the SEC lawsuit?

On Wednesday, Torres also banned Ripple for future violations of federal security laws. Judge Torres stated that while she doesn’t make a decision on whether Ripple broke any laws following the SEC filing its lawsuit, they may have. “cross the line.” “Rather, the Court finds that Ripple’s willingness to push the boundaries of the Order evinces a likelihood that it will eventually (if it has not already) cross the line,” “She said” “On balance, the Court finds that there is a reasonable probability of future violations, meriting the issuance of an injunction.”

Also Read: Donald Trump: Plan to Fire SEC Chair Might Backfire

According to the decision, Ripple will have to file a statement of registration if they plan to ever sell securities. XRP has risen significantly since the Ripple v SEC case was concluded. At the time of publication, it was trading at $0.5883. That’s an increase of nearly 16% in just one day. This decision should also positively affect the entire cryptocurrency market. The market has badly needed a boost after its recent collapse.

A brief overview statement to XBrad Garlinghouse, CEO of Ripple, expressed his admiration for the decision. “This is a victory for Ripple, the industry, and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone.”