Ripple faces $125 million fine and industry restrictions, with SEC veteran Marc Fagel suggesting potential appeal in 60 days amid legal challenges
At the conclusion of the SEC's case against Ripple, the company was fined $125 million and barred from further violations of industry regulations. According to consensus, Judge Torres's ruling is an indication that she is concerned with Ripple's future conduct in the industry and has issued an injunction to prevent future violations.and CLO Stuart Alderoty, are happy with the result.
The SEC has up to 60 days to decide whether to ask the court to review the decision, which gives them time to think about the best way to proceed. Fagel notes that the ruling on programmatic sales is still a point of contention and could influence the SEC's approach going forward.Fagel also mentions the big financial penalty that was handed down to Ripple, which was way more than the company had asked for but less than the SEC first wanted.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.BloFin Announced as Diamond Sponsor for European Blockchain Convention 2024 in Barcelona
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