JOEL - According to the Bible God punished Satan (represented by the serpent) by placing a curse on him in regards to his status and limits of power on this earth:

"And the LORD God said unto the serpent, Because thou hast done this, thou [art] cursed above all cattle, and above every beast of the field; upon thy belly shalt thou go, and dust shalt thou eat all the days of thy life:
And I will put enmity between thee and the woman, and between thy seed and her seed; it shall bruise thy head, and thou shalt bruise his heel.(Genesis 3:14-15)

Some of what God said to Satan should probably be taken more figuratively than literally. However, God did man a big favor by limiting the amount of power that Satan could wield over Adam and his posterity. Placing enmity between us and Satan means that man will always have an inborn hate and aversion against him and what he stands for. With the power to "bruise thy head", man will always be stronger than Satan, as long as he keeps himself away from his evil influence.
President Joseph Fielding Smith explained that “the ‘God of peace,’ who according to the scriptures is to bruise Satan, is Jesus Christ.” (Answers to Gospel Questions, Salt Lake City: Deseret Book Co., 1957, 1:3.) Satan would bruise the Savior’s heel by leading men to crucify Him. But through his death and resurrection, Christ would crush Satan's head by overcoming death for all of us; and through his atonement, offer each of us a way to escape the eternal ramifications of sin.