Ripple Labs Inc. has filed a new notice of supplemental authority to address the pending motion for remedies and final judgment in its legal battle with the US Securities and Exchange Commission (SEC). The filing, dated June 13, 2024, aims to change the court\u2019s perspective on the matter.<\/p>\n
Ripple\u2019s legal team makes a comparative analysis between its case and a similar case involving Terraform Labs. They highlight the SEC\u2019s actions against Terraform Labs Pte. Ltd., where substantial penalties were imposed for securities fraud. In contrast, Ripple argues that their case lacks allegations of fraud.<\/p>\n
Referencing the significant penalties imposed on Terraform, Ripple challenges the proportionality of the penalties sought by the SEC in their case. They argue that the SEC\u2019s demands are disproportionately high, especially considering the lack of proven financial harm to institutional investors in Ripple\u2019s case.<\/p>\n
Ripple\u2019s filing questions the fairness of the SEC\u2019s penalties and aims to negotiate a more reasonable outcome by highlighting the disparities in treatment. The legal team proposes a civil penalty cap of $10 million, contrasting with the SEC\u2019s proposed $2 billion fine for Ripple\u2019s actions involving XRP sales to institutional investors.<\/p>\n
Currently, XRP is trading at $0.47967.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Ripple Labs Inc. has filed a new notice of supplemental authority to address the pending motion for remedies and final judgment in its legal battle with the US Securities and Exchange Commission (SEC). The filing, dated June 13, 2024, aims to change the court\u2019s perspective on the matter. Comparison with SEC vs. Terraform Case Ripple\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":13832,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Ripple Refers to Terraform Case to Challenge SEC Penalties - Bitrabo","description":"Ripple Labs Inc. has filed a new notice of supplemental authority to address the pending motion for remedies and final judgment in its legal battle with the US"},"footnotes":""},"categories":[316],"tags":[796,842,4898,3630,575,520,4849,1987],"class_list":["post-13831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-case","tag-filing","tag-invokes","tag-penalties","tag-ripple","tag-sec","tag-slash","tag-terraform"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/13831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=13831"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/13831\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/13832"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=13831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=13831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=13831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}