Ripple Counters SEC's $1.95 Billion Fine Demand with $10 Million Proposal

Ripple Labs argues the proposed SEC fines are excessive given the lack of fraud or reckless conduct in their case, advocating for a significantly reduced penalty.

• Ripple Labs opposes the SEC's request for nearly $2 billion in penalties, suggesting a $10 million fine is more appropriate.
• The SEC's fine proposal includes disgorgement and prejudgment interest, which Ripple contests based on Supreme Court precedent.
• Ripple asserts its institutional sales involved informed and sophisticated entities, challenging the severity of the SEC's demands.
• The legal battle, ongoing since 2020, saw Ripple win key issues, including the non-violation of securities laws for some XRP sales.
• Ripple's stance reflects broader concerns about the SEC's approach to the crypto industry, accusing it of intimidation.

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