Ripple fined $125 million, barred from future securities law violations

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Ripple fined $125 million, barred from future securities law violations - CoinGeek

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The post Ripple fined $125 million, barred from future securities law violations appeared first on CoinGeek.

The SEC cited legal opinions that Ripple received prior to its initial issuance of XRP, stating that “if sold to investors, XRP tokens are likely to be securities.” The lawyers further warned that the more Ripple promoted XRP as an investment, “the more likely it is that the SEC will take action.

As such, Torres rejected the SEC’s request for a penalty of $876.3 million representing the net profits of the institutional sales, instead imposing the $125 million fine for the 1,278 institutional transactions involved in this case.