Ripple has been fined $125 million in a protracted legal battle with the U.S. Securities and Exchange Commission (SEC), according to a recent court filing.
A federal judge has ordered the XRP issuer to pay the fine after finding that its institutional sales violated federal securities laws.
“The SEC’s motion for relief and final judgment is granted in part and denied in part,” the filing, signed by Judge Analisa Torres, reads. “The Court will enter final judgment enjoining Ripple from further violating the securities laws and imposing a civil penalty of $125,035,150.”
In July, Ripple CEO Brad Garlinghouse said he expected the pending legal issues to be resolved “very soon.”
U.S. District Judge Analisa Torres of the Southern District of New York on Wednesday imposed the civil penalty following a previous ruling that 1,278 institutional sales transactions executed by Ripple violated securities regulations.
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