[Ripple Labs says SEC fine is too high, proposes to reduce it to $10 million] Sources say Ripple Labs has proposed in its court battle with the U.S. Securities and Exchange Commission (SEC) that the recent $4.5 billion Terraform Labs settlement is evidence to reduce its recommended fine to $10 million. The SEC had recommended that Ripple Labs pay a $2 billion civil penalty, including $876 million in restitution, $198 million in prejudgment interest, and an additional $876 million in civil penalties. Ripple Labs said it has new evidence to argue for a lower fine.