Heavy Penalty Demand for Ripple by the SEC

The U.S. Securities and Exchange Commission (SEC) demanded a fine of nearly $2 billion from Ripple. Despite experiencing defeats in some previous lawsuits, SEC made this demand. This move by SEC comes after a period where Grayscale defeated SEC on the way to approval for Bitcoin ETF. Accusations Against Ripple Ripple has been in a legal battle with the SEC since the end of 2020. The lawsuit against Ripple has not yet resulted in a clear outcome, turning into a never-ending story. The SEC aims to punish Ripple severely for non-compliance. SEC lawyers filed a petition in the U.S. Southern District Court of New York, seeking a $1.95 billion penalty from Ripple. The request includes compensation, prejudgment interest, and civil penalties. Battle Between SEC and Ripple SEC lawyers indicate that Ripple can afford this penalty. However, this would require Ripple to sell a large amount of XRP, leading to a […]

Heavy Penalty Demand for Ripple by the SEC

The U.S. Securities and Exchange Commission (SEC) demanded a fine of nearly $2 billion from Ripple. Despite experiencing defeats in some previous lawsuits, SEC made this demand. This move by SEC comes after a period where Grayscale defeated SEC on the way to approval for Bitcoin ETF.

Accusations Against Ripple

Ripple has been in a legal battle with the SEC since the end of 2020. The lawsuit against Ripple has not yet resulted in a clear outcome, turning into a never-ending story. The SEC aims to punish Ripple severely for non-compliance.

SEC lawyers filed a petition in the U.S. Southern District Court of New York, seeking a $1.95 billion penalty from Ripple. The request includes compensation, prejudgment interest, and civil penalties.

Battle Between SEC and Ripple

SEC lawyers indicate that Ripple can afford this penalty. However, this would require Ripple to sell a large amount of XRP, leading to a decrease in prices and causing harm to individual investors.

The regulatory agency expects that, despite legal warnings, Ripple will continue to sell XRP and accept the resulting penalties. While Ripple is capable of paying the penalty, SEC emphasizes the need for the penalty to be a deterrent.

Ripple’s General Counsel states that SEC’s goal is to punish Ripple and scare it, and they will respond in April.

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