The American regulator demanded that Ripple pay a fine of $ 2 billion

This was announced on platform X by Ripple Labs General Counsel Stuart Alderoty. Ripple is preparing to file an official response next month, as the regulatory body is making false and misinterpreted statements to mislead the court, the lawyer claims. He added: instead of applying the law in good faith, the SEC continues to seek to punish and intimidate not only Ripple, but the entire cryptocurrency industry. Alderoti hopes that the court will make a fair decision.

Ripple CEO Brad Garlinghouse also criticized the SEC's approach, calling the requested amount of fines excessive. He noted recent court decisions on claims by other cryptocurrency companies, where the judges did not support the SEC. For example, last week, the Utah District Court imposed sanctions on the SEC for unfair actions against the Debt Box crypto company and abuse of its powers. As for Ripple itself, last year the court recognized that XRP sold on the secondary market are not securities. Garlinghouse argues that the SEC ignores legal precedents and does not pay due attention to the fight against real securities fraud.

"The SEC and its chairman, Gary Gensler, have repeatedly acted outside the law, and this has not gone unnoticed by the judges. Even the courts have realized that the agency is grossly abusing the power entrusted to it by Congress. It is strange that Gensler forgot about the fraud with the FTX crypto exchange and its founder Sam Bankman-Fried," Garlinghouse wrote.

In December 2020, the SEC filed a lawsuit against Ripple, claiming that the company raised more than $1.3 million during an unregistered ICO. The regulator claims that XRP is an investment contract, so altcoin should be regulated as a security. However, Ripple's management does not agree with the SEC's accusations.

Source: https://bits.media/amerikanskiy-regulyator-potreboval-ot-ripple-zaplatit-shtraf-2-mlrd/