Winning the case in 2023 did not mean that Ripple would be safe. At that time, "Ripple's selling of coins to institutional investors" had been deemed a securities sale by the judge. This still needs to wait for the final ruling (that is, this year), and the ruling submitted by the SEC to the court The request for fines drew criticism from Ripple executives.
(Protecting is also guilty! The U.S. Securities and Exchange Commission formally indicted Ripple and two top executives for selling 1.3 billion unregistered securities and manipulating currency prices)
Ripple seeks $2 billion fine from SEC
Attorney James K. Filan pointed out that the U.S. Securities and Exchange Commission (SEC) has submitted supplementary documents to the court and a public version will be submitted before the 26th.
Ripple Labs Chief Legal Officer Stuart Alderoty retweeted James K. Filan’s tweet, revealing that the SEC has asked a New York judge to impose a $2 billion fine on Ripple.
Stuart Alderoty said angrily:
Ripple will respond next month, but as we have seen time and time again, the SEC always issues mischaracterized and misleading statements. Instead of faithfully enforcing the law, the SEC is bent on punishing and intimidating Ripple and crypto as a whole. industry.
As you will see when the SEC’s brief is made public tomorrow, they ask the Judge for $2B in fines and penalties. 1/4 https://t.co/HM8dBbn7lp
— Stuart Alderoty (@s_alderoty) March 25, 2024
Is the Ripple case coming to an end?
According to previous reports, winning the lawsuit in 2023 did not mean that Ripple would be safe. At that time, "Ripple's selling of coins to institutional investors" had been deemed by the judge as securities sales, which still needs to wait for the final ruling (that is, this year).
Other charges in the Ripple case include investment contracts, token sales distribution, etc. The good news is that the charges against Ripple’s two top executives have been dropped.
(Why is it said that the SEC has not surrendered yet? The Ripple case still awaits the final verdict, and the SEC can still appeal next year)
Ripple CEO slams SEC
Ripple CEO Garlinghouse also criticized on Twitter:
Gary Gensler’s SEC has repeatedly broken the law, but the judge did not overlook the agency’s egregious abuse of Congressional powers (DEBT Box) and lack of loyalty to the law (Ripple). Let’s also not forget that Gensler has ignored the SBF in the past. Fraud committed.
DEBT Box Case Facts: (Using unscrupulous means to enforce the law? SEC lawsuit brought false evidence and was sanctioned by the judge: deliberate misleading, serious abuse of power)
Gensler’s SEC has repeatedly acted outside the law – not going unnoticed by Judges admonishing the agency for a "gross abuse of the power entrusted to it by Congress" (DEBT Box case) and for acting without "faithful allegiance to the law" (Ripple case). Let’s not also forget… https://t.co/vay6WDBfJc
— Brad Garlinghouse (@bgarlinghouse) March 25, 2024
This article The final chapter of the Ripple case? The SEC seeks a $2 billion fine, and Ripple executives criticize it. The post appeared first on Chain News ABMedia.
