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<ul class="news-points">
 <li>The SEC is set to demand $2 billion in a no-fraud case against Ripple Labs.</li>
 <li>Ripple executives Brad Garlinghouse and Stuart Alderoty slammed the SEC.&nbsp;</li>
 <li>Alderoty said that the agency is bent on “wanting to punish and intimidate Ripple.”</li>
</ul>
The United States Securities and Exchange Commission wants a whopping $2 billion from Ripple Labs, the firm behind the XRP token, in a case that has no fraud allegations, according to the blockchain payment firm’s chief executive, Brad Garlinghouse.&nbsp;
In a<a href="https://twitter.com/s_alderoty/status/1772339312043979156" target="_blank" rel="noopener noreferrer nofollow"> post</a> on social media platform X (formerly known as Twitter), Ripple Chief Legal Officer Stuart Alderoty confirmed the SEC’s upcoming brief, which is set to be made public tomorrow. The agency seeks to ask the judge for $2 billion in “fines and penalties.”
<blockquote class="wp-block-quote">
 “Our response will be filed next month, but as we all have seen time and again, this is a regulator that trades in statements that are false, mischaracterized and designed to mislead. They stayed true to form here. Rather than faithfully apply the law, the SEC remains bent on wanting to punish and intimidate Ripple – and the industry at large.”
</blockquote>
The legal chief expressed his faith in the legal system w…
The post <a href="https://coinedition.com/sec-seeks-2b-in-fine-in-case-against-ripple-labs-with-no-fraud-allegations/" rel="noopener noreferrer nofollow">SEC Seeks $2B in Fine in Case Against Ripple Labs With No Fraud Allegations</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

SEC Seeks $2B in Fine in Case Against Ripple Labs With No Fraud Allegations

Coin Edition

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