SEC Issues Important Statement on Ripple (XRP) Case
The US Securities and Exchange Commission (SEC) recently released a significant update on the ongoing Ripple case, shedding light on the penalties facing the company.
In response to Ripple’s request to reduce fines, the SEC firmly stated that the company had not admitted any wrongdoing. The SEC emphasized that the circumstances surrounding Ripple’s penalties were distinct from those of Terraform, another company involved in a similar legal battle.
Ripple, embroiled in a legal dispute with the SEC since 2020, argued against the proposed $2 billion penalty, drawing comparisons to Terraform Labs. However, the SEC countered by highlighting the differences in the two cases, pointing out discrepancies in terms and actions taken by both companies.
Terraform recently settled with the SEC for $4.47 billion, with additional restrictions on its co-founder. The SEC emphasized that the penalty amounts for Ripple and Terraform were not directly comparable, citing differences in conduct and financial figures.
The SEC’s statement emphasized the unique circumstances of each case and reiterated that Ripple had not accepted any of the proposed penalties. Investors were advised to exercise caution and conduct thorough research before making any investment decisions.
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*Please note that this article does not constitute investment advice.
