USA: SEC demands $1.95 billion fine against Ripple Labs
- The US Securities and Exchange Commission (SEC) has asked a New York judge to impose a fine on Ripple Labs of about $2 billion.
- The SEC is proposing that the court order Ripple Labs to pay $876 million in forfeiture, $198 million in pretrial interest and $876 million in civil penalties, for a total of $1.95 billion.
- The case began in December 2020 when the SEC filed a lawsuit against Ripple Labs and its executives, accusing them of violating federal securities laws by selling XRP to institutional and retail customers.
