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SEC refutes Ripple's claim to reduce $2 billion fine to $10 million

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2024-05-08 18:57:28
According to a recent court filing, the Securities Exchange Commission (SEC) is rebutting Ripple Inc.'s claim that the fine should be reduced. The SEC said Ripple should pay nearly $2 billion in fines to institutional investors for selling the product. Ripple argued in a motion of opposition filed last month that the figure should be closer to $10 million, and the SEC noted that its proposed penalty is substantial, but said in an SEC filing Tuesday that Ripple's proposed penalty would be a "minor penalty."
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