Fox reporter: Both the SEC and Ripple are unlikely to appeal the ruling on remedies
ChainCatcher news, Fox reporter Eleanor Terrett stated on the X platform that she contacted the U.S. Securities and Exchange Commission (SEC) for comments on the Ripple ruling. A spokesperson provided the following statement: "The court approved the remedial motion proposed by the SEC, including an injunction prohibiting Ripple from further violating securities laws, as well as significant civil penalties totaling more than 12 times the appropriate amount suggested by Ripple. As the court found, Ripple's demonstrated 'willingness to breach the boundaries of [the court's summary judgment] order' indicates that it is likely to cross the line. The court also noted the 'seriousness of Ripple's conduct' and stated that 'there is no doubt that the extremely profitable conduct of repeatedly violating Section 5 is a serious violation of the law.' As several courts have stated, regardless of the technology or labels used by the company, as long as they offer and sell investment contracts, securities laws apply."Terrett stated: "The reactions from both sides indicate that they both believe they have the upper hand in this transaction—Ripple is celebrating because the fine is $1.225 billion less than the amount initially proposed by the SEC. Meanwhile, the SEC is also celebrating because Ripple now has to pay 12 times the amount it initially suggested, and the judge also agreed that the company violated securities laws. Based on all this, I think it is unlikely that either side will appeal the ruling on remedies. I believe that since the final judgment has been made, the SEC is more likely to appeal the ruling from July 2023."
