XRP Case: SEC Veteran Breaks Silence on Ripple Win

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.

Ripple execs, including CEO Brad Garlinghouse and CLO Stuart Alderoty, are happy with the result. They say the court's decision is good for the company and the wider crypto industry, pointing out that it rejected the SEC's more demanding requests of $2 billion.

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On the other hand, Marc Fagel, a veteran of the SEC and an expert in securities law, has a different take on things. He sees the ruling as more of a court-ordered fix for the current case, not as a settlement. Fagel thinks that the SEC might think about asking the court to review the decision, but he understands that no decision has been made yet.

60 days

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.

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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. The regulator did not get everything it asked for, but Fagel thinks the penalty is one of the highest non-fraud-related fines in recent history.