Ripple SEC Lawsuit May Continue As SEC Appeals Ruling

Key Points:

• The SEC is expected to appeal the ruling that ordered Ripple to pay $125 million and barred them from future securities law violations.

Ripple SEC Lawsuit is expected to continue as the SEC reportedly appealed the ruling that fined Ripple $125 million and barred further securities law violations.

CoinDesk reported that the U.S. Securities and Exchange Commission will appeal the previous ruling that ordered Ripple to pay a fine and barred them from further violating securities laws. In light of this appeal, Ripple’s legal matters could be extended.

Ripple SEC Lawsuit Expected to Continue

On Wednesday, a federal judge ordered Ripple to pay $125 million in civil penalties and slapped an injunction against future violations of securities law.

The fine is significantly lower than the initial demand by the SEC, which sought $1 billion in disgorgement and prejudgment interest, coupled with a further $900 million in civil penalties. XRP surged nearly 20% following a landmark ruling by a judge in Ripple’s long-warring case with the SEC.

In response to the judgment, Ripple chief executive officer Brad Garlinghouse said on X (formerly Twitter), “We respect the Court’s judgment and have clarity to continue growing our company.”

Read more: Ripple SEC Lawsuit Continues to See a Victory for XRP

Garlinghouse Criticizes SEC’s Rule Enforcement and Ripple’s Stablecoin Launch

CoinCu reported last week that Garlinghouse had much to say in condemning the SEC for some “hypocritical” and uneven rule enforcement.

Garlinghouse’s comments on social media platform X seem to contradict those made by the Chairman of the SEC, Gary Gensler, who claimed that the SEC’s aim is to clarify its regulatory rules. According to Garlinghouse, the SEC’s actions are political rather than regulatory.

CoinCu also reported in April that Ripple, the brain behind XRP Ledger, has entered the stablecoin market with the launch of its USD-pegged stablecoin.