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<figure class="wp-block-post-featured-image"><img decoding="async" width="800" height="492" src="https://cryptonewsland.com/wp-content/uploads/2023/09/xrp-ripple-82.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" style="object-fit:cover;" srcset="https://cryptonewsland.com/wp-content/uploads/2023/09/xrp-ripple-82.jpg 800w, https://cryptonewsland.com/wp-content/uploads/2023/09/xrp-ripple-82-300x185.jpg 300w, https://cryptonewsland.com/wp-content/uploads/2023/09/xrp-ripple-82-768x472.jpg 768w, https://cryptonewsland.com/wp-content/uploads/2023/09/xrp-ripple-82-150x92.jpg 150w" sizes="(max-width: 800px) 100vw, 800px">
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<ul>
 <li>The SEC has proposed a $102.6 million settlement with Ripple over the XRP lawsuit.</li>
 <li>Ripple criticizes the SEC for demanding unreasonably high penalties compared to the TerraForm Labs case.</li>
 <li>The SEC’s motion to dismiss its case against Ripple executives was rejected by Judge Torres.</li>
</ul>
<p>In a significant development, <a href="https://www.sec.gov/" target="_blank" rel="noopener noreferrer nofollow">the Securities and Exchange Commission (SEC)</a> has issued a response to Ripple’s recent letter concerning the TerraForm Labs Consent Judgment. The SEC’s reply requests a substantial settlement amount of $102.6 million, hinting at a possible resolution in the protracted legal tussle over XRP’s status.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING: The SEC has responded to <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a>'s letter regarding the TerraForm Labs Consent Judgment!<br><br>It seems like the SEC is asking for a $102.6 million settlement. <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a><br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;"> SETTLEMENT INCOMING! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/NJFZHzuWty" rel="noopener noreferrer nofollow">pic.twitter.com/NJFZHzuWty</a></p>— JackTheRippler © (@RippleXrpie) <a href="https://twitter.com/RippleXrpie/status/1801770922153484294?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 15, 2024</a>
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<p>Ripple has been vocal in criticizing the SEC for what it perceives as disproportionate penalties. The blockchain company points to the TerraForm Labs case, where the SEC imposed a fine that was merely 1.27% of the total involved.</p>
<p>The ongoing dispute took a turn in October 2023 when the SEC sought to withdraw its lawsuit against Ripple executives <a href="https://www.linkedin.com/in/bradgarlinghouse" target="_blank" rel="noopener noreferrer nofollow">Brad Garlinghouse</a> and Chris Larsen. This move was interpreted as an opening for remedy discussions between the regulatory body and Ripple. However, Judge Torres later dismissed this motion by the SEC.</p>
<h2 class="wp-block-heading" id="h-ripple-accuse-sec-of-biasness-nbsp">Ripple Accuse SEC of Biasness&nbsp;</h2>
<p><a href="https://cryptonewsland.com/xrp-secures-regulatory-clarity-strengthening-ripples-payments-monopoly-will-xrp-set-new-ath-soon/" target="_blank" rel="noopener noreferrer nofollow">Ripple’s stance</a> is clear as it underscores the SEC’s alleged bias and excessive penalty demands through its Notice of Supplemental Authority. The company draws attention to the stark difference in treatment between its case and that of TerraForm Labs, emphasizing what it considers to be an unfair enforcement approach by the SEC.</p>
<p>The SEC had previously charged TerraForm Labs and <a href="https://cryptonewsland.com/terraform-labs-co-founder-do-kwon-challenges-sec-lawsuit/" target="_blank" rel="noopener noreferrer nofollow">Do Hyeong Kwon</a> with conducting a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin among other crypto asset securities.</p>
<p>This latest response from the SEC could pave the way for a settlement that might finally bring an end to the longstanding legal battle, providing clarity on XRP’s regulatory status and potentially setting a precedent for future crypto asset securities cases.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
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 <li><a href="https://cryptonewsland.com/former-canaan-chairmans-crypto-project-hacked-insider-turns-fugitive/" rel="noopener noreferrer nofollow">Former Canaan Chairman’s Crypto Project Hacked: Insider Turns Fugitive</a></li>
 <li><a href="https://cryptonewsland.com/ethereum-on-exchanges-plummets-supply-reaches-new-lows/" rel="noopener noreferrer nofollow">Ethereum On Exchanges Plummets, Supply Reaches New Lows</a></li>
 <li><a href="https://cryptonewsland.com/xrps-fate-hangs-in-the-balance-will-it-soar-to-1-or-plummet-to-0-35/" rel="noopener noreferrer nofollow">XRP’s Fate Hangs in the Balance: Will It Soar to $1 or Plummet to $0.35?</a></li>
 <li><a href="https://cryptonewsland.com/dogecoin-whale-stockpiles-millions-amid-plummeting-prices-what-does-this-mean/" rel="noopener noreferrer nofollow">Dogecoin Whale Stockpiles Millions Amid Plummeting Prices: What Does This Mean?</a></li>
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</ul>
<p>The post <a href="https://cryptonewsland.com/sec-vs-ripple-battle-reaches-penultimate-conclusion-settlement-in-millions/" rel="noopener noreferrer nofollow">SEC vs Ripple Battle Reaches Penultimate Conclusion, Settlement in Millions</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

SEC vs Ripple Battle Reaches Penultimate Conclusion, Settlement in Millions

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