The U.S. SEC has proposed a $1.95 billion penalty against Ripple Labs and has requested a New York court to evaluate the seriousness of the company's actions. Through a proposed final judgment submitted to Judge Analisa Torres on Monday, the SEC is pushing for a fine that includes disgorgement, prejudgment interest, and a civil penalty. The SEC's main argument is focused on the severity and prevalence of Ripple's alleged misconduct, stressing the importance of sending a strong message as a deterrent to Ripple and other entities considering public capital raising through unregistered crypto-asset transactions. Ripple has been in disputes with the SEC for years following accusations of unregistered securities transactions. A recent ruling favored Ripple in certain XRP sales but upheld the SEC's claims on direct sales to institutional investors. The current dispute is centered on these direct institutional sales, with the SEC alleging that Ripple earned nearly $1 billion unlawfully. This action is believed to undermine the regulatory requirement for securities transactions to be registered, endangering the financial market's legal structure. Ripple's response to the SEC's approach and penalties has been critical, describing them as misleading and punitive. Ripple plans to submit a formal response by April 22, as directed by the SEC.
SEC Seeks $2 Billion Fine from Ripple Labs

by Giorgi Kostiuk
2 years ago

Other news
Bitcoin Coinbase Premium Signals Market Shift

Bitcoin's Coinbase premium has turned positive for the first time since February 6, indicating a potential shift in market dynamics.

Regulatory Developments Could Impact Shiba Inu's Future

Recent discussions about the CLARITY Act and SEC decisions may significantly influence Shiba Inu's price and market sentiment.

Kazakhstan's Trade Growth and Strategic Shift for 2026

Kazakhstan's Ministry of Trade and Integration reports significant growth in trade turnover and exports, with a focus on high-value goods and domestic production.

US Crypto Regulatory Landscape Under Discussion

During a recent interview, Binance CEO Richard Teng emphasized the importance of regulatory clarity for the US crypto market, stating that any regulation would be better than none.

BinanceUS Plans Expansion in the US Market

BinanceUS is exploring expansion in the US to enhance product offerings for American customers.

Binance Sees Massive Inflow of XRP Amid Market Dynamics

Binance absorbed a massive inflow of over 31 million XRP in a single day, raising questions about potential short-term supply dynamics.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter