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Judge Fines Ripple $125M, Bans Future Securities Law Violations

The SEC appeared likely to appeal the overall case.

The judge reiterated her view that Ripple's programmatic sales of XRP to retail clients through exchanges did not violate federal securities laws. A federal judge ordered Ripple to pay $125 million in civil penalties and imposed an injunction against future securities law violations on Wednesday. Wednesday's order on remedies follows the judge's July 2023 ruling in the case itself, finding that Ripple violated federal securities laws through its direct sale of XRP to institutional clients, though she also ruled that Ripple's programmatic sales of XRP to retail clients through exchanges did not violate any securities laws.

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