SEC Judge Rejects Ripple Settlement Deal

Judge Upholds $125 Million Penalty Against Ripple

• A federal judge rejected a settlement to reduce Ripple’s penalty from $125 million to $50 million.
• Judge Analisa Torres emphasized the need for exceptional circumstances to vacate a final judgment.
• The joint motion by the SEC and Ripple sought to lift an injunction against future securities violations.
• The original penalty was imposed for selling unregistered securities, violating the Securities Act.
• Ripple’s chief legal officer noted the ruling was procedural and does not affect Ripple’s previous wins.

The court’s decision maintains Ripple’s $125 million penalty for unregistered securities sales, emphasizing procedural requirements for altering final judgments. Both parties plan to revisit the matter in court.