Ripple’s decisive victory over the SEC has officially ruled XRP a non-security.
Judge Torres reduced the SEC’s demanded fine from $2 billion to $125 million.
Ripple has exciting news following its recent victory over the US Securities and Exchange Commission (SEC). XRP has been officially classified as a non-security, a designation that was highly disputed during Ripple’s litigation against the Commission.
Court Significantly Reduces SEC Penalties for Ripple’s Institutional XRP Sales
In addition, as Ripple CEO Brad Garlinghouse noted in his most recent tweet, the court has reduced the SEC’s penalties for institutional XRP sales that violate federal securities laws.
The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.
This is a victory for Ripple, the industry and the rule of law. The SEC’s…
— Brad Garlinghouse (@bgarlinghous
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