$1.25萬罰款遠低於預期，Ripple再次擊敗SEC

5,417 0 3

Original author: Felix, PNews

Ripples years-long lawsuit with the U.S. SEC has made progress again. In a document filed with the U.S. District Court for the Southern District of New York on August 7, Judge Analisa Torres ruled that Ripple should bear more than $125 million in compensation liability and pay the fine to the SEC within 30 days; in addition, an injunction document was issued to prohibit Ripple from further violating securities laws. If Ripple plans to sell any securities, it must submit a registration statement.

Regarding the injunction preventing Ripple from violating securities laws in the future, Judge Torres said that sales made by the company after the SEC filed its complaint may not have violated federal law, but that “the likelihood of future violations is so great that it warrants an injunction.”

Judge Torres ruling was a mixed blessing for both parties. While the court determined that certain XRP sales did constitute securities offerings, it also ruled that XRP itself was not a security. This was a major victory for Ripple and has caused an uproar in the cryptocurrency market, with XRPs price soaring sharply. Coingecko data shows that XRP rose 19.2% in 24 hours.

“Ripple declares victory”

The amount was far less than the $1 billion in disgorgement and prejudgment interest and $900 million in civil penalties sought by the SEC. CEO Brad Garlinghouse said at X Platform that the ruling was a victory for Ripple, the industry, and the rule of law given that the court reduced the SECs proposed fine by 94%.

“The SEC sought $2 billion in damages, and the court found that they had overreached, reducing the amount by approximately 94%. We respect the court’s decision and have made it clear that we will continue to grow our company. This is a win for Ripple, the industry, and the rule of law. The SEC’s headwind to the entire XRP community is gone.”

Earlier in July, Brad Garlinghouse expected the company to settle its years-long lawsuit with the U.S. SEC soon. Data from analytics firm Santiment showed that the level of activity on the XRP ledger and the creation of new addresses have also reached their highest level since March.

Ripple Chief Legal Officer Stuart Alderotyz said the company will respect the $125 million fine. The judgment is final. The court rejected the SECs suggestion that Ripple acted recklessly and reminded the SEC that this case does not involve any allegations of fraud or willful misconduct, and no one suffered any financial loss. She rejected the SECs ridiculous request for $2 billion in fines and penalties. We respect the $125 million penalty awarded by the court.

The lawsuit is not over yet

In 2020, the U.S. SEC accused Ripple of raising $1.3 billion by selling XRP, claiming that XRP was an unregistered security.

In July 2023, the judge ruled that Ripples direct sales of XRP to institutional clients violated federal securities laws, but that programmatic sales of XRP to retail investors through exchanges did not violate any securities laws. During the trial, the SEC tried to appeal this part of the ruling but failed.

Ripples fourth consecutive victory over the SEC seems to herald Ripples reappearance, but the shadow of the lawsuit has not completely dissipated. The SEC may still appeal the ruling in the next 60 days, which means that the legal dispute surrounding XRP may continue. But this victory has undoubtedly boosted Ripples confidence and helped to change the current sluggish market.

This article is sourced from the internet: The $125 million fine is far lower than expected, Ripple once again defeated the SEC

相關：回顧火爆一年的 Telegram Bot 賽道，這五種競爭策略輔助

原創| Odaily星球日報（@OdailyChina）作者｜南植（@Assassin_Malvo）去年第三季度，Meme市場再次火熱，打破了Maestro主導的競爭格局。大量的 Telegram Bot 開始登上歷史舞台，包括 BananaGun、Unibot 等當時領先的項目，以及 WagieBot、MEVFree 等回想起來稍縱即逝的產品。 Telegram Bot 正式成為核心賽道。一年前，在預測交易機器人賽道未來方向的五張圖表中，我認為由於 Meme 股市和網路效應的缺乏，Unibot 很可能會被顛覆，未來的發展方向將集中在一個——停止產品和顯著優勢.....

#分析