Legal
SEC Appeals $125 Million Judgment in Ripple Labs XRP Lawsuit
Ripple Labs was sued in 2020 by the SEC, which claimed the company broke the law when it raised money by selling its XRP digital token without registering it as a security.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
The US Securities and Exchange Commission appealed a court decision ordering Ripple Labs Inc. to pay a $125 million civil penalty for improperly selling its XRP token, a fraction of the $2 billion the regulator sought in a long legal battle with the cryptocurrency company.
Ripple Labs was sued in 2020 by the SEC, which claimed the company broke the law when it raised money by selling the digital token without registering it as a security. The case has been closely watched because of its implications for the SEC’s regulatory power over crypto.