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CryptoIntelligence 2024-06-16 02:41:31

Ripple Calls for Fair Penalty in SEC Case, Cites Terraform Labs Settlement

Lawyers for blockchain firm Ripple have urged a court to consider an “appropriate” civil penalty in its case against the United States Securities and Exchange Commission (SEC), referencing a recent settlement between the SEC and Terraform Labs. On June 13, Ripple’s legal team filed a notice of supplemental authority in the U.S. District Court for the Southern District of New York. They argued the SEC’s civil penalty against Ripple was “unreasonable,” citing a recent $4.5 billion settlement with Terraform Labs and its co-founder, Do Kwon. The SEC has requested that Ripple pay approximately $2 billion in disgorgement, prejudgment interest, and

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