Posted 3/25/2024, 8:32:00 PM
SEC Seeks $2 Billion in Fines Against Ripple in Ongoing Legal Fight Over XRP Status
- SEC allegedly asking judge for $2B in fines and penalties against Ripple Labs
- Judgment would end this phase of multi-year legal battle over whether XRP is a security
- Judge previously ruled Ripple violated securities laws in selling XRP to institutions, but not retailers
- Ripple CEO says there's no precedent for $2B judgment and company will fight back
- Ripple will file response to judgment motion next month, claims SEC wants to "punish and intimidate" crypto industry
