SEC Asks Judge To Order Ripple To Pay Nearly $2,000,000,000 in Fines and Penalties

SEC Asks Judge To Order Ripple To Pay Nearly $2,000,000,000 in Fines and Penalties


The U.S. Securities and Exchange Commission (SEC) has asked a judge to order Ripple to pay nearly $2 billion in fines and penalties.

The SEC first sued the payments company in late 2020 for allegedly selling XRP as an unregistered security.

Last summer, US District Judge Analisa Torres ruled that Ripple’s automated, open-market sales of XRP, referred to as programmatic sales, did not constitute security offerings, contrary to what the SEC alleged.

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The judge did, however, side with the SEC’s claim that Ripple’s sale of XRP directly to institutional buyers constituted a securities offering.

James K. Filan, a defense lawyer and crypto legal expert, shared the SEC’s new Motion for Remedies and Entry of Final Judgment, which was submitted to the court on Monday.

The

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