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International Business Times
International Business Times
Business
Marvie Basilan

BIZARRE: Ripple blasts disproportionate sec case fine cites terraform labs settlement | Mind Blowing Facts

SEC Ripple Terraform Crypto
Ripple, the company behind the blockchain technology XRP Ledger, wants the court to reject the SEC's proposal for $2 billion in fines. (Credit: Pixabay)

KEY POINTS

  • Ripple's legal counsel asked the court to reject the SEC's "unprecedented" proposal of $2 billion in fines
  • Unlike in the Terraform case, there was no fraud allegation in the SEC's case against Ripple, the counsel said
  • Ripple seeks to pay "no more than $10 million" in the case that alleged it violated securities laws

Ripple Labs, the tech company behind the Ripple payment protocol, has pushed back against the U.S. Securities and Exchange Commission's (SEC) proposal for a staggering multi-billion-dollar fine against Ripple.

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