EddieJayonCrypto
26 Mar 24
The US Securities and Exchange Commission (SEC) is pursuing a $2 billion fine against Ripple Labs for unauthorized fundraising through the sale of XRP. This stems from Ripple allegedly raising funds through unregistered securities offerings in the US and globally, sparking the SEC's interest. Ripple...
The US Securities and Exchange Commission (SEC) is pursuing a $2 billion fine against Ripple Labs for unauthorized fundraising through the sale of XRP.
This stems from Ripple allegedly raising funds through unregistered securities offerings in the US and globally, sparking the SEC's interest. Ripple executives, including Larsen and Garlinghouse, are accused of profiting approximately $600 million from unregistered sales of XRP. The SEC is seeking $2 billion in fines and penalties from a New York judge. This case reflects the rigorous regulatory environment governing cryptocurrencies and the agency's dedication to enforcing existing securities laws.
Our response
Just to give a nod to Ripple Chief Legal Officer Stuart Alderoty, he said, "Our response will be filed next month, but as we all have seen time and again, this is a regulator that trades in statements that are false, mischaracterized, and designed to mislead..."
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