Breaking: Judge Torres Fines Ripple $125 Million, Forbids Future Securities Law Violations

District Judge Analisa Torres of the Southern District of New York, has ordered Ripple to pay a $125 million penalty after finding that the blockchain giant violated security laws by involving in 1,278 institutional sales. Notably, this fine is way below the $1 billion disgorgement and prejudgment sought by the SEC.

This marks a major milestone in the long-running court case between the two entities. Interestingly, the global crypto community took note of the recent update as the price of XRP skyrocketed over 25% following the ruling. This story is still unfolding, refresh this page for more.

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