Ripple Gets Big Break: SEC Lowers Settlement Demand To $103 Million

A glimmer of hope emerged for Ripple Labs this week in their ongoing legal battle with the SEC. The Securities and Exchange Commission slashed its proposed settlement amount from a staggering $2 billion to a more manageable $102.6 million. While this represents a significant concession, Ripple still faces a tough decision: accept the deal and […]

Jun 16, 2024 - 23:00

Ripple Gets Big Break: SEC Lowers Settlement Demand To $103 Million

A glimmer of hope emerged for Ripple Labs this week in their ongoing legal battle with the SEC. The Securities and Exchange Commission slashed its proposed settlement amount from a staggering $2 billion to a more manageable $102.6 million.

While this represents a significant concession, Ripple still faces a tough decision: accept the deal and live with the uncertainty surrounding XRP’s legal status, or risk a potentially disastrous court battle.

Ripple Cites Precedent, SEC Emphasizes Distinctions

The SEC’s initial $2 billion penalty sent shockwaves through the cryptocurrency industry. Ripple, however, countered with a much lower offer of $10 million, citing the SEC’s own history of settlements typically ranging between 0.6% and 1.8% of the defendant’s revenue.

#XRPCommunity #SECGov v. #Ripple #XRP @SECGov has responded to @Ripple’s letter regarding the TerraForm Labs Consent Judgment. pic.twitter.com/VvGSJffwa8
— James K. Filan
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