SEC was asking Billions in penalties. Court ruled $125 mil.
CONCLUSION
The SEC’s motion for remedies and the entry of final judgment is GRANTED IN PART
and DENIED IN PART. The Court shall enter a final judgment enjoining Ripple from further violations of the securities laws and imposing a civil penalty of $125,035,150
No disgorgement, No fraud or misappropriation.
XRP is Not a Security.
Court also rejected SEC's claim:
The SEC suggests that each of Ripple’s “1,700 relevant contracts” constitutes a
separate violation
And there the "17" number again.
Correct me if I’m wrong From what I understand XRP can move anything of value, fiat money backed by gold, assets backed currency in a matter of seconds, as opposed to Bitcoin. If dollars are backed by gold, we can still use XRP to transfer money to other countries with cbdc, when money transfers back to us we can covert it back to asset backed currency. XRP is a bridge/utility currency, not a meme coin. Many countries like Japan, Russia, China, Indonesia are already signed up to use Ripple to build their CBDCs.
CBDC's are beyond dangerous
Ya we don't need cbdc
Yes, but you don’t need the token to move money. Just the tech, though I’m sure they will have more use cases for the token.
That is the XRP problem from what I’ve read. If you want more do some due dilligence as that is my understanding (watched some videos too.)
Thats my understanding as well, except for the part about countries signed up with Ripple to build their currencies (not sure I would call them CDBCs though) - I have heard that claim, but havent seen anything to confirm it.