SEC Targets Ripple Labs with $2 Billion Fine for Regulatory Misconduct

SEC Targets Ripple Labs with $2 Billion Fine for Regulatory Misconduct



In a significant legal development, the Securities and Exchange Commission (SEC) of the United States has taken a firm stance against Ripple Labs, proposing a monumental $1.95 billion fine. The action underscores the regulatory body's intent to uphold the sanctity of market laws, addressing what it perceives as a glaring contravention of securities regulations by the digital currency enterprise.



This proposition was formally presented to Judge Analisa Torres of a New York district court early this week, encapsulating a breakdown of the penalty to include $876 million in disgorgement, $198 million in prejudgment interest, and an additional $876 million labeled as a civil penalty.



Central to the SEC's litigation strategy is its characterization of Ripple Labs' operations as egregiously violative, with the agency emphasizing the


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#Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations, #Ripple, #SEC, #Xrp

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