币界网报道：Ripple Labs faces a $125 million penalty after a U.S. judge denied its request to settle a long-running legal dispute with the SEC over alleged unregistered securities sales. The ruling comes despite Ripple's argument that it had already paid $250 million in legal fees and should not face further financial penalties. The SEC had initially sought $2 billion in fines, accusing Ripple of illegally selling XRP tokens to institutional investors. While the court previously ruled that XRP sales to retail investors did not violate securities laws, it maintained that institutional sales required registration. Ripple's chief legal officer expressed disappointment with the decision, stating the company will evaluate its next steps. The case, ongoing since 2020, continues to create regulatory uncertainty for cryptocurrency firms operating in the U.S. market.