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Ripple Labs has formally opposed the SEC's request for a New York judge to impose a nearly $2 billion fine on the company, filed on April 22. The SEC's demand includes a total of $1.95 billion, which comprises $876.3 million in disgorgement and $198.2 million in additional penalties. Ripple Labs, in its legal filings, has countered by proposing a maximum of $10 million in civil penalties.
Ripple Labs filed its opposition against the @SECGov's proposal to ask a New York judge to impose a nearly $2 billion fine against the company. Ripple instead sought a maximum of $10 million in civil penalties. https://t.co/vi5vpd6UAO
SEC vs Ripple $XRP Update: Yesterday @Ripple Labs filed its opposition against the U.S. Securities and Exchange Commission’s (SEC) proposal to ask a New York judge to impose a nearly $2 billion fine against the company behind the XRP Ledger blockchain. “The Court should deny the… https://t.co/BxdZQy9Een
🚨 @Ripple fights back against @SECGov’s $2 billion fine request, arguing it shouldn’t exceed $10 million. https://t.co/Cqweuu0ROg