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In a recent development, Ripple filed a Notice of Supplemental Authority regarding the TerraForm Labs Consent Judgment. This move comes in the wake of the SEC vs. Terraform Labs court ruling, where the SEC imposed a hefty fine on Terraform Labs amounting to over $4.5 billion. This case has sparked comparisons with Ripple’s ongoing legal battle with the SEC over alleged securities violations.
Ripple’s filing pointed out the disparity in civil penalties sought by the SEC in these two cases. While the SEC demanded a civil penalty of 1.27% of Terraform Labs’ gross sales, Ripple argues that the proposed penalty in their case is far greater than what is typically agreed upon in similar situations. Despite no allegations of fraud and minimal losses to XRP institutional investors, the SEC is seeking a much larger penalty from Ripple.
With our in-depth analysis and expert commentary, Extreme Investor Network delves into the intricacies of these legal battles and their potential implications for the cryptocurrency market. Stay informed and stay ahead of the curve with exclusive content from our website. Don’t settle for generic news – trust Extreme Investor Network to provide you with the most cutting-edge insights in the world of finance and investing.