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Judge Torres Rules Ripple to Pay $125M, XRP Not a Security

Aug 7, 2024, 08:34 PM

A federal judge, Analisa Torres, has ordered Ripple Labs to pay a $125 million civil penalty, concluding a long-standing legal battle with the U.S. Securities and Exchange Commission (SEC). The case centered on Ripple's sale of its XRP token to institutional investors, which the SEC argued violated securities laws. The penalty is significantly lower than the $2 billion initially sought by the SEC, marking a substantial reduction of approximately 94%. The court ruling also includes an injunction preventing Ripple from further violations of securities laws. This decision officially ends the nearly four-year litigation, with the court determining that XRP is not a security.