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Terraform Precedent: SEC Challenges Ripple’s Fine Appeal

Published 06/15/2024, 07:21 PM
Updated 06/15/2024, 07:45 PM
© Reuters. Terraform Precedent: SEC Challenges Ripple’s Fine Appeal
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  • The SEC has responded to Ripple’s letter concerning the judgment in the TFL case.

  • In the letter, the SEC cited a potential penalty of $102.6 million from Ripple.

  • The figure marks a significant reduction from the initial $2 billion request.

In the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission, the regulator has responded to Ripple’s challenge regarding the proposed $2 billion fine. The SEC’s response, filed on Friday, further clarified its stance on the issue, drawing upon a recent settlement in another high-profile case involving Terraform Labs.

The regulator issued the reply on Friday in a letter to District Judge Analisa Torres, as noted by defense lawyer James Filan on X platform (formerly Twitter).

For context, on June 13, Ripple submitted a letter to support its opposition to the SEC’s earlier $2 billion fine recommendation. Ripple highlighted that, according to the TFL Consent Judgment, the defendant agreed to …

The post Terraform Precedent: SEC Challenges Ripple’s Fine Appeal appeared first on Coin Edition.

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