Fine

James

<ul class="news-points"> 
 <li><strong>The SEC has responded to Ripple’s letter concerning the judgment in the TFL case.</strong></li> 
 <li><strong>In the letter, the SEC cited a potential penalty of $102.6 million from Ripple.</strong></li> 
 <li><strong>The figure marks a significant reduction from the initial $2 billion request.</strong></li> 
</ul> 
<p>In the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission, the regulator has responded to Ripple’s challenge regarding the proposed $2 billion fine. The SEC’s response, filed on Friday, further clarified its stance on the issue, drawing upon a recent settlement in another high-profile case involving Terraform Labs.</p> 
<p>The regulator issued the reply on Friday in a letter to District Judge Analisa Torres, as <a href="https://x.com/FilanLaw/status/1801755432102383850" target="_blank" rel="nofollow">noted by</a> defense lawyer James Filan on X platform (formerly Twitter).</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/XRPCommunity?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#XRPCommunity</a> <a href="https://twitter.com/hashtag/SECGov?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#SECGov</a> v. <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Ripple</a> <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#XRP</a> <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@SECGov</a> has responded to <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@Ripple</a>’s letter regarding the TerraForm Labs Consent Judgment. <a href="https://t.co/VvGSJffwa8" target="_blank" rel="nofollow">pic.twitter.com/VvGSJffwa8</a></p>— James K. Filan 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;">
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1ee-1f1ea.png" alt="🇮🇪" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@FilanLaw) <a href="https://twitter.com/FilanLaw/status/1801755432102383850?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">June 14, 2024</a>
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<p>For context, on June 13, Ripple submitted a letter to support <a href="https://coinedition.com/sec-seeks-2b-in-fine-in-case-against-ripple-labs-with-no-fraud-allegations/">its opposition</a> to the SEC’s earlier $2 billion fine recommendation. Ripple highlighted that, according to the TFL Consent Judgment, the defendant agreed to …</p>
<p>The post <a href="https://coinedition.com/terraform-precedent-sec-challenges-ripples-fine-appeal/">Terraform Precedent: SEC Challenges Ripple’s Fine Appeal</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Terraform Precedent: SEC Challenges Ripple’s Fine Appeal

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