SEC Seeks 1026 Million Following Terraform Labs Letter from Ripple

The SEC has accused Ripple of engaging in practices reminiscent of past violations, adding another layer of complexity to their ongoing legal battle.
In response to Ripple’s recent filings on the Consent Judgment, the SEC has proposed a potential settlement of $102.6 million, as noted by crypto enthusiast Jack The Rippler.
Attorney Bill Morgan representing XRP revealed that the SEC’s allegations against Ripple mirror previous infractions, raising concerns about the legal implications for Ripple’s On-Demand Liquidity (ODL) service.
The SEC claims that Ripple’s current ODL sales methods closely resemble those that were previously deemed unlawful, although the court lacks sufficient evidence to determine if these actions violate current regulations.
Legal experts anticipate a final ruling in the SEC v. Ripple Labs case possibly in July, with the potential for an SEC appeal further complicating the legal landscape.
The ongoing ambiguity surrounding Judge Torres’s decision on XRP programmatic sales as non-security contracts continues to fuel the legal dispute, keeping both parties on edge.
As of the latest data from CoinMarketCap, XRP is valued at approximately $0.4787, showing a 0.21% increase in the last 24 hours but a 4.13% decrease over the past week, indicating a bearish trend.
Ripple has stood by Terraform Labs, denouncing the SEC’s $4.47 billion penalties as unjust, as previously reported by CNF.