SEC Will Not Appeal Ripple Ruling

The US Securities and Exchange Commission (SEC) has decided not to appeal the recent ruling by Judge Torres in the legal battle with Ripple. The case, which concluded on August 7, resulted in Ripple facing a civil penalty much lower than what the SEC had initially demanded. Judge Torres ordered a $125 million civil penalty for securities violations but no disgorgement, a significant reduction from the SEC's original $2 billion claim. The court also imposed an injunction to prevent further violations of the Securities Act. While Ripple executives viewed the ruling as a victory, the SEC remained silent initially. However, a statement obtained by FOX Business journalist Eleanor Terrett from the SEC suggests that both parties are content with the outcome. Ripple celebrates the reduced fines, while the SEC sees the court's support for its interpretation of securities laws and penalties as a positive development. The likelihood of an appeal from either side seems low, with both parties seemingly satisfied with the ruling.