The SEC is appealing a federal court’s ruling on Ripple
Illustration by Alex Castro / The Verge
The Securities and Exchange Commission (SEC) is appealing a federal judge’s ruling in its yearlong legal battle against Ripple over sales of its XRP token.
This extends the battle over whether Ripple violated securities laws, as an SEC spokesperson told CoinDesk, “We believe that the district court decision in the Ripple matter conflicts with decades of Supreme Court precedent and securities laws and look forward to making our case to the Second Circuit.”
In August, a federal judge in the Southern District of New York fined Ripple $125 million despite the SEC asking for a much higher penalty of $2 billion. The much lighter punishment partly stems from an earlier ruling. In 2023, Judge Analisa Torres decided that while Ripple defrauded...
Continue reading…
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings