SEC signals no plans to appeal ruling - 0 views
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John Kiff about 19 hours agoThe U.S. Securities and Exchange Commission (SEC) is reportedly not likely to appeal the August 7, 2024 ruling by Judge Torres on its lawsuit against Ripple Labs. Although the judge ruled against Ripple, the $125 million civil penalty imposed was less than the $2 billion that the SEC was seeking. However, an injunction was imposed to prevent further violations of Section 5 of the Securities Act, regarding Ripple's sales of XRP tokens. The SEC was reportedly happy that the Court found that the fact that Ripple has shown a "willingness to push the boundaries of the [Court's summary judgment] Order [that] evinces a likelihood that it will eventually (if it has not already) cross the line".
