LAST MINUTE. Striking statements from the SEC abou

The SEC, the US regulatory authority, argued that the $1.95 billion penalty Ripple had to pay for unregistered XRP sales was reasonable. SEC made important statements about Ripple.

The tension between the SEC and Ripple does not end. This conflict, which has been going on for many years, continues intensively in the legal field.

Finally, the $1.95 billion penalty requested by the SEC from Ripple had a huge impact on the cryptocurrency market. While Ripple claimed that this penalty was unreasonable, crypto investors argued that Ripple should end the process by paying the penalty.

Ripple Labs' general counsel Stuart Alderoty interpreted the SEC's move as punishing the crypto industry and hindering the industry's progress.

While the fight between the two parties continues, the SEC made statements about the penalty request.

SEC: Ripple Deserves Penalty Request

SEC made a statement regarding Ripple's controversial penalty request. "We believe Ripple is in a position to pay a significant civil penalty," the US securities regulator said. said.

The SEC stated that the $1.95 billion penalty it requested from Ripple was made to prevent Ripple from violating the law. The agency claimed that the company was motivated by an incentive that merely exceeded the cost of doing business.

In its application to the US District Court for the Southern District of New York on March 25, the regulator demanded that Ripple pay damages of $876,308,712, prejudicial interest of $198,150,940, and a civil penalty of $876,308,712.

The SEC claimed that Ripple continued to sell XRP despite all legal warnings. Claiming that the company defied the law, the SEC argued that Ripple should pay a penalty.

The SEC made the following statement on the matter: "Given Ripple's largely unregistered sales of XRP over the last three years, we believe deterrent measures are needed."

The SEC stated that it believes the penalty request will correct Ripple's behavior.

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