Although the lawsuit between the two parties is still ongoing, the U.S. Securities and Exchange Comm
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Home > News
Published: 26/03/2024
-
Author: Kane
SEC Seeks $2 Billion Fine from Ripple (XRP)
Although the lawsuit between the two parties is still ongoing, the U.S. Securities and Exchange Commission (SEC) is still demanding Ripple Labs to pay a fine of up to $2 billion.
Azcnews Breaking
The legal storm between Ripple and the Securities and Exchange Commission (SEC) is reaching its peak of tension. In a recent development, the SEC has proposed a staggering $2 billion fine against Ripple Labs – a record penalty second only to the Binance case.
This information was disclosed by Ripple’s General Counsel Stuart Alderoty himself. According to him, the massive fine proposal is currently under seal by the court but will be officially unveiled on March 26th.
This is the latest move by the SEC in the ongoing battle since 2020, where they accused Ripple of unlawfully selling securities in the form of XRP tokens. Despite a partially favorable ruling from the federal court, the SEC remains steadfast in pursuing the lawsuit.
Alderoty declared that Ripple will fight to the end, rebutting the SEC’s request for a hefty fine in April. The legal battle between the two parties has escalated to new heights, with the potential $2 billion fine looming as a decisive blow.
The SEC’s action is part of Chairman Gary Gensler’s cryptocurrency crackdown campaign over the past two years. Rumors of Ethereum being the next target are also circulating. The heat of the fight against cryptocurrencies shows no signs of cooling down.
Related: Ethereum and XRP Maintain Positions Amid Market Volatility
Ripple’s (XRP) price volatility
The cryptocurrency market seems unfazed by this news and remains optimistic, with XRP prices recovering gently, unaffected by the news of the SEC’s massive fine. Will the tension continue to escalate.
Chart Xrp Ripple
Chart Xrp
Read More
#SEC
#XRP
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AbouSkip to content
AZC.News
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BTC Coin BTC
4.74%
ETH Coin ETH
4.66%
USDT Coin USDT
0.02%
BNB Coin BNB
1.72%
SOL Coin SOL
4.62%
XRP Coin XRP
2.04%
USDC Coin USDC
0.01%
DOGE Coin DOGE
3.37%
ADA Coin ADA
3.07%
AVAX Coin AVAX
3.66%
BTC Coin BTC
4.74%
ETH Coin ETH
4.66%
USDT Coin USDT
0.02%
BNB Coin BNB
1.72%
SOL Coin SOL
4.62%
XRP Coin XRP
2.04%
USDC Coin USDC
0.01%
DOGE Coin DOGE
3.37%
ADA Coin ADA
3.07%
AVAX Coin AVAX
3.66%
Search...
Home > News
Published: 26/03/2024
-
Author: Kane
SEC Seeks $2 Billion Fine from Ripple (XRP)
Although the lawsuit between the two parties is still ongoing, the U.S. Securities and Exchange Commission (SEC) is still demanding Ripple Labs to pay a fine of up to $2 billion.
Azcnews Breaking
The legal storm between Ripple and the Securities and Exchange Commission (SEC) is reaching its peak of tension. In a recent development, the SEC has proposed a staggering $2 billion fine against Ripple Labs – a record penalty second only to the Binance case.
This information was disclosed by Ripple’s General Counsel Stuart Alderoty himself. According to him, the massive fine proposal is currently under seal by the court but will be officially unveiled on March 26th.
This is the latest move by the SEC in the ongoing battle since 2020, where they accused Ripple of unlawfully selling securities in the form of XRP tokens. Despite a partially favorable ruling from the federal court, the SEC remains steadfast in pursuing the lawsuit.
Alderoty declared that Ripple will fight to the end, rebutting the SEC’s request for a hefty fine in April. The legal battle between the two parties has escalated to new heights, with the potential $2 billion fine looming as a decisive blow.
The SEC’s action is part of Chairman Gary Gensler’s cryptocurrency crackdown campaign over the past two years. Rumors of Ethereum being the next target are also circulating. The heat of the fight against cryptocurrencies shows no signs of cooling down.
Related: Ethereum and XRP Maintain Positions Amid Market Volatility
Ripple’s (XRP) price volatility
The cryptocurrency market seems unfazed by this news and remains optimistic, with XRP prices recovering gently, unaffected by the news of the SEC’s massive fine. Will the tension continue to escalate.
Chart Xrp Ripple
Chart Xrp
Read More
#SEC
#XRP
0.0/5
Love
Leave a Reply
Your email address will not be published. Required fields are marked *
Comment *
Twitter
Telegram
Name
Save my name, email, and website in this browser for the next time I comment.
LATEST
Azcnews Breaking
Airdrops | Altcoin | News 26/03/2024
Guide to Participating in Merlinchain Airdrop and Merlinswap IDO
Merlinchain, the Layer-2 project within the Bitcoin ecosystem, has launched an airdrop program for users upon completing tasks. Additionally, they are organizing an IDO event for Merlinswap. Read more details here!
Azcnews Breaking
News | Editor Choice | Policy & Regulations 26/03/2024
Users Want Vitalik Buterin to Return to Twitter (X)
In a post responding to a call for Vitalik to return to using X (formerly Twitter), this post immediately received a response from Elon Musk.
Azcnews
News | Altcoin | Editor Choice 26/03/2024
Ethereum and XRP Maintain Positions Amid Market Volatility
An analysis indicates a potential surge in altcoin prices. Market indicators continue to decline for XRP and Ethereum.
Azcnews Breaking
News | Editor Choice | Policy & Regulations 26/03/2024
Escalation of Tensions Between Nigeria and Binance
The Nigerian tax authority has charged Binance with four tax-related offenses. Tensions heightened further when one of the two Binance employees was detained by the Nigerian government.
Azcnews (3)
News | Bitcoin | Editor Choice 26/03/2024
Bitcoin Surges Back to $70,000 Amid Ongoing GBTC Sell-Off
Bitcoin has surged back above $70,000, marking a significant recovery. Last week, investors withdrew $942 million from cryptocurrencies, with Bitcoin ETFs witnessing the largest outflows.
Top views
1
Ether.fi (ETHFI) Announces Token Airdrop
2
Short-Term Bitcoin Investors Have Reaped Profits
3
Guide to Participating in Eclipse Testnet
4
Binance Announces Listing of Book of Meme (BOME)
5
Bitcoin ETF Registers Weekly Inflow of $2.5 Billion
6
Receive Airdrop on Binance Web3 Wallet
7
Elon Musk Continues to Promote Dogecoin
8
Ethereum Dips Below $4000 But Signals Remain Positive
9
Join the Ton Airdrop on OKX Exchange
10
JMP Securities Forecasts Bitcoin Could Reach $280,000 USD
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