Ripple CEO Hails Court Ruling in Case Brought by SEC

Category: Cryptocurrency

Ripple Labs was ordered to pay a $125 million civil penalty by a federal judge in a case with the SEC regarding the sale of its XRP token to institutional investors. The SEC initially sought $2 billion, but the court significantly reduced this amount. Ripple's CEO called the ruling a victory for the company and the XRP community, emphasizing the need for regulatory clarity in the cryptocurrency industry. Following the ruling, XRP's value increased by 25%.

Keywords: Ripple Labs, XRP, SEC

Source: pymnts.com

Update At: 8/8/2024

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