TechFlow reported, Ripple's Chief Legal Officer said Monday that the U.S. Securities and Exchange Commission (SEC) is seeking $2 billion in fines and penalties from Ripple Labs.
Stuart Alderoty posted on X that the company will respond to the SEC's proposal next month.
He stated: "Our response will be filed next month, but as we've seen time and again, this regulator issues false, mischaracterized, and misleading statements. They're staying true to form here. The SEC is solely focused on punishing and intimidating Ripple and the entire industry."
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