U.S. District Judge Analisa Torres has issued a final judgement in the SEC v. Ripple case
The judge has stated that there is"no question" that Ripple's"recurrent" and"highly lucrative" violations of federal securities laws are a"serious offense." However, the judge added that the case did not involve allegations of such examples of culpable conduct as fraud and misappropriation. Moreover, the SEC failed to establish that Ripple had caused significant losses to investors with its unregistered institutional sales.
The SEC will hold this money together with"any interest and income earned thereon." The agency will have to seek court approval in order to distribute the funds. The summary judgment likely marks the end of Ripple's long-lasting legal battle with the SEC, which started back in December 2020. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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