TechFlow News — Court documents show that Ripple has been fined $125 million in its lawsuit with the U.S. Securities and Exchange Commission (SEC). A document signed by New York Judge Analisa Torres states that the court will issue a final judgment enjoining Ripple from further violations of securities laws and imposing the aforementioned fine. This amount is significantly lower than the SEC's proposed $2 billion, but higher than the $10 million Ripple considered reasonable.
Ripple CEO Brad Garlinghouse said this marks a victory for Ripple, the industry, and the rule of law. An SEC spokesperson emphasized that the court granted the agency's key motions, including the injunction prohibiting Ripple from violating securities laws.
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