SEC comes back! Court orders Ripple to pay $1.95 billion, permanently bans institutional sales

This website (120BTc.coM): A few days ago, Ripple executives confirmed that the SEC asked a New York judge to fine Ripple $2 billion. According to legal documents, the court fully heard After taking relevant opinions, the judge approved the SEC's motion in the final ruling to issue the following order:

• Ripple needs to return US$876,308,712, which is the net profit from the violation of securities sales.

• Under Section 20(d) of the Securities Act, a civil penalty of $876,308,712 is required.

• Ripple is required to pay an additional $198,150,940 in pre-judgment interest.

Ripple needs to pay a total of US$1.95 billion.

Contents of the final judgment

SEC regained a victory and Ripple was sentenced to a permanent ban

Previously reported that the winning case in 2023 and This does not mean that Ripple will get out of the game. At that time, Ripple’s selling of coins to institutional investors (including institutional buyers, hedge funds and ODL customers) has been deemed by the judge as a securities sale, which still needs to wait for the final ruling (that is, this year).

The judgment further states that Ripple will be permanently prohibited from directly or indirectly conducting institutional sales of unregistered securities. Unless it has a valid registration statement, Ripple may not transport, sell or sell through any commercial tools or communication means. Deliver the security (XRP).

Institutional sales have always been one of Ripple’s sources of revenue, which may have a negative impact on future financial statements.

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