<\/p>\n
Ripple Labs Inc. is pushing back against a US$2 billion fine proposed by the U.S. Securities and Exchange Commission (SEC), advocating for a reduction by referencing Terraform Labs\u2019 recent US$4.5 billion settlement as a comparative benchmark. <\/p>\n
The blockchain firm\u2019s legal team contends that the suggested penalty for their XRP sales is unduly harsh and should be closer to US$10 million, highlighting the lack of fraud allegations and minimal investor losses in their case, unlike Terraform\u2019s. <\/p>\n
This legal challenge follows a protracted battle with the SEC, which has accused Ripple of executing unregistered securities offerings.<\/p>\n
In the Terraform Labs case, the SEC imposed a substantial settlement including a permanent ban for co-founder and former CEO Kwon Do-hyung from holding certain corporate positions. <\/p>\n
The SEC\u2019s lawsuit against Ripple, which began in December 2020 with allegations of the company raising US$1.3 billion through unregistered XRP sales, has been under intense scrutiny from the cryptocurrency sector due to its potential impact on digital asset classification and regulation.<\/p>\n
Ripple scored a partial victory in the case where the judge ruled that the company\u2019s public sale of XRP did not violate security rules while institutional sales did.<\/p>\n
\n\t\t\t\t Post Views:<\/span> 227<\/span>\n\t\t\t<\/p>\n<\/div>\n \t\t!function(f,b,e,v,n,t,s) Ripple Labs Inc. is pushing back against a US$2 billion fine proposed by the U.S. Securities and Exchange Commission (SEC), advocating for a reduction by referencing Terraform Labs\u2019 recent US$4.5 billion settlement as a comparative benchmark. The blockchain firm\u2019s legal team contends that the suggested penalty for their XRP sales is unduly harsh and should […]<\/p>\n","protected":false},"author":2,"featured_media":122225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-323679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/323679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=323679"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/323679\/revisions"}],"predecessor-version":[{"id":323687,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/323679\/revisions\/323687"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/122225"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=323679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=323679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=323679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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