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The verdict ordered Ripple Labs to stop selling any assets to professional investors without properly registering them as securities with the SEC, and to pay the court $125 million in civil penalties.
The SEC has faced recent defeats in the case, including an unexpected ruling by Judge Analisa Torres in July that found that Ripple's sale of XRP on exchanges did not constitute an unregistered ...
In its December 2020 lawsuit, the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP.
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In December 2020, the SEC sued Ripple, the core developer behind the cryptocurrency XRP. Central to the agency’s allegations were that XRP was an unregistered security, or similar to shares in a ...
In 2020, the SEC sued San Francisco-based Ripple and its current and former chief executives, alleging they conducted a $1.3 billion unregistered securities offering by selling XRP, which Ripple's ...
Ripple's court victory over the SEC in July—a case in litigation since 2020—was seen as a boon not just for the company but the entire industry. In a landmark decision, ...
The case is SEC v Ripple Labs Inc et al, U.S. District Court, Southern District of New York, No. 20-10832. (Reporting by Jonathan Stempel and Jody Godoy in New York; Editing by Edwina Gibbs)