The post Ripple vs. SEC: Examining the Controversial $1.95 Billion Remedies Request appeared first on Coinpedia Fintech News
In the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), the commission’s recent remedy request has faced backlash from the crypto community. The SEC’s demand for a staggering $1.95 billion in fines and penalties against Ripple has drawn criticism from XRP enthusiasts, who view it as an excessive exercise of regulatory power.
SEC’s Remedies Request
On March 22, the SEC submitted its remedied-related court filing, demanding Ripple Inc. to pay $1.95 billion in fines and penalties. This amount far exceeds the sum Ripple gained from its alleged unregistered securities offering through XRP institutional sales, which totaled $728.9 million from 2013 to 2020.
Members of the XRP community have voiced their discontent with the SEC’s request, characterizing it as an indication of bias against Ripple.
Law
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