<ul><li>Despite SEC&#39;s reduced $102M penalty, Ripple reinforces its stance with a Notice of Supplemental Authority.</li><li>Ripple challenges the SEC’s regulatory approach, highlighting the inadequacies of the Howey test for digital assets.</li><li>Anticipation builds as Ripple&#39;s case against the SEC could significantly sway XRP and broader crypto market trends.</li></ul>On July 2, 2024, Ripple Labs took a decisive step in its prolonged legal confrontation with the SEC by filing a crucial <a href="https://www.dropbox.com/scl/fi/7zuud4yarcp2nta2gdyoe/Ripple-Notice-of-Supplemental-Authority.pdf?rlkey&#61;o9ntz66lp19y4jon13vau3ue8&amp;dl&#61;0" rel="noopener noreferrer nofollow">document</a> in the courtroom of Judge Analisa Torres. This move marks another chapter in the ongoing legal saga that has extended over three and a half years, illustrating the complexities of digital asset regulation and its implications on the market.Despite the SEC&#39;s significant reduction in the penalty demand—from an initial $2 billion to <a href="https://cryptotale.org/us-sec-pushes-for-102m-settlement-with-ripple-amid-xrp-dispute/" rel="noopener noreferrer nofollow">$102 million</a>—Ripple Labs chose to decline the offer. Instead, they submitted a <a href="https://x.com/FilanLaw/status/1808211867367886945" rel="noopener noreferrer nofollow">Notice of Supplemental Authority</a>, a strategic legal document to reinforce their position against the SEC&#39;s call for remedies and final judgment. Defense Attorney James Filan, representing Ripple, shared insights into the company&#39;s legal strategy, leveraging a recent legal victory by cryptocurrency exchange Binance.<a href="https://cryptotale.org/ripple-fights-back-rejects-secs-reduced-penalty-challenges-crypto-regulation/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ripple Fights Back: Rejects SEC's Reduced Penalty, Challenges Crypto Regulation

CryptoTale

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