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Ripple Cites Terraform Labs' Settlement to Lower Penalty Against It to $10 Million
Ripple Labs is leveraging the recent settlement of the Securities and Exchange Commission (SEC) with Terraform Labs to lower the proposed nearly $2 billion penalty against it to $10 million, a “notice of supplemental authority” posted yesterday (Thursday) revealed. The blockchain company has argued that the hefty $2 billion penalty proposed by the regulator for offering the XRP token to institutions is unreasonable and should be closer to $10 million. “The civil penalty sought by the SEC in Terraform demonstrates the unreasonableness of the civil penalty sought by the SEC in this (Ripple’s) case,” the ... (full story)