US SEC expected to appeal Ripple ruling, meaning related legal matters may be prolonged
District Judge Analisa Torres of the Southern District of New York has ruled that Ripple did not violate federal securities laws by making programmatic sales of XRP to retail customers through its trading platform, CoinDesk reports. But Ripple's 1,278 institutional sales transactions violated the securities laws, and it was fined $125.35 million, far less than the SEC's request for $1 billion in recovery and pre-judgment interest and $900 million in civil penalties.
Although the case is purportedly closed, the SEC is expected to appeal the ruling, meaning that related legal matters could be extended.
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