币界网报道：Ripple Labs faces continued legal challenges as a U.S. judge upheld the $125 million penalty in its ongoing lawsuit with the SEC. The ruling maintains that Ripple violated securities laws by selling XRP to institutional investors without proper registration. While the court previously determined that XRP sales to retail investors did not constitute securities offerings, the latest decision reinforces regulatory scrutiny over institutional transactions. Ripple's CEO Brad Garlinghouse expressed disappointment but reaffirmed the company's commitment to resolving the case, emphasizing XRP's utility as a digital asset rather than a security. The SEC continues to push for stricter enforcement, arguing that Ripple's actions misled investors. Legal experts suggest this ruling could set a precedent for how crypto assets are classified and regulated in the U.S., potentially impacting other blockchain projects facing similar scrutiny. Market reactions were muted, with XRP's price showing minimal volatility following the news.