TechFlow reported on August 8, according to Coindesk, that Judge Analisa Torres of the U.S. District Court for the Southern District of New York ruled that Ripple's programmatic sales of XRP to retail customers via exchanges did not violate federal securities laws. However, 1,278 institutional sale transactions by Ripple were found to have violated securities laws, resulting in a penalty of $125.035 million—significantly less than the SEC's requested $1 billion in disgorgement and prejudgment interest, as well as a $900 million civil penalty. Although the case is reportedly concluded, the U.S. Securities and Exchange Commission (SEC) is expected to appeal the ruling, potentially prolonging related legal proceedings.
Previous report: Ripple was fined $125 million in its lawsuit with the U.S. Securities and Exchange Commission (SEC).
