Ripple has fired back against the U.S. Securities and Exchange Commission’s (SEC) request for it to pay nearly $2 billion in penalties.
In March, the SEC asked the court to order Ripple to pay $876,308,712 in disgorgement, $198,150,940 in prejudgment interest, and a $876,308,712 civil penalty, which totals around $1.95 billion.
Ripple filed an opposition to the SEC’s motion on Monday, according to documents shared by James K. Filan, a defense lawyer and crypto legal expert.
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The San Francisco-based payments company argues that the court should deny the SEC’s requests for an injunction, disgorgement, and pre-judgment interest. The firm also suggests the civil penalty should be no more than $10 million.
Ripple’s lawyers argue that $10 million would reflect an appropriate percentage of the company’s
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