The ongoing legal dispute between Ripple Labs and the US Securities and Exchange Commission (SEC) is nearing a crucial turning point. The XRP community has been eagerly awaiting the SEC’s response to Ripple’s opposition to the proposed $2 billion fine, which is expected to be submitted by May 6th.
Market experts have been speculating on the SEC’s persistence in seeking punitive measures and injunctions against Ripple, which would restrict the company from conducting further institutional sales of its native token, XRP.
On April 29th, the regulator presented its arguments opposing Ripple’s motion to dismiss new SEC materials. These materials are crucial to Judge Analisa Torres’ final ruling on the penalty for Ripple’s sale of XRP to institutional investors.
It is important to note that Ripple has publicly opposed the SEC’s proposal for a $2 billion fine. Stuart Alderoty, Ripple’s chief legal officer, emphasized the company’s opposition in a court document filed on April 22nd.
Last month, the SEC announced its intention to impose a $2 billion fine on Ripple Labs, further escalating the conflict between regulators and crypto entities. Alderoty stated that the SEC’s order is evidence of its ongoing aggression towards cryptocurrencies in the US and expressed confidence that the judge will handle the final phase of the case fairly.
Disclaimer: The views expressed in this article are for informational purposes only and do not constitute financial or investment advice. Investing in cryptocurrencies carries the risk of financial loss.
