US SEC seeking $2 Billion from Ripple, Chief legal officer reports says Reuters

According to Reuter, the U.S. Securities and Exchange Commission is seeking fines and penalties totaling $2 billion in its case against Ripple Labs over sales of the cryptocurrency XRP, the company’s chief legal officer said in a social media post. The company’s Chief Legal Officer Stuart Alderoty said the regulator has asked U.S. District Judge Analisa Torres in Manhattan for the penalties in court papers filed under seal. The SEC was scheduled to file the documents publicly with redactions on Tuesday. Ripple is scheduled to file a reply in April.

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