SEC Seeks $1.95 Billion Fine Against Ripple Labs in Securities Lawsuit
The SEC has requested a $1.95 billion fine against Ripple Labs and is urging the court to consider the ease with which actors in the crypto asset space can engage in similar conduct. The proposed fine includes $876 million in disgorgement, $198 million in prejudgment interest, and a $876 million civil penalty. The case began in December 2020 when the SEC filed suit against Ripple Labs and its executives for violating federal securities laws by selling XRP to both institutional and retail customers. Ripple Labs' chief legal officer has criticized the SEC and stated that the company will file its response next month.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
[Initial listing] Bitget to list Cysic (CYS) in the Innovation zone
100% rebate for KYB users: Earn fee rebates on EUR bank deposits!
[Initial listing] Bitget to list Talus (US) in the Innovation and AI zone
Bitget Trading Club Championship (Phase 21)—Up to 1250 BGB per user, plus a ZETA pool and Mystery Boxes
