Krutika Adani
Ripple has strongly responded to SEC’s $2 billion fine.
The SEC has sought $876m for disgorgement, $198m as the prejudgment interest, and had also imposed a civil penalty of $876m.
Ripple believes these penalties do not have legal ground.
The institutional sales case against Ripple by the SEC has not ended yet though the courts ruled that retail sales by Ripple were not securities.
In another case, two SEC lawyers have resigned for their misconduct.