In a statement, the ICC said Taylor admitted to being in breach of the provisions of the ICC Anti-Corruption Code.
Sreesanth was slapped with a life ban by the BCCI for his alleged role in spot-fixing while playing for Rajasthan Royals.
One of the betters claimed to have worked on the scam with former and current internationals including a World Cup-winning all-rounder.
ICC’s anti-corruption unit said there was nothing to suggest that the players have had any contact with alleged fixers.
The court held there were no materials or evidence before the disciplinary committee to conclude Sreesanth was guilty of violation of the anti-corruption code formulated by the BCCI.