SEC flays Ripple in Terraform-fueled demand for settlement reduction
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
In the SEC’s latest response to Ripple Labs, the regulator argued that its charges are generally agreed on on a case-by-case basis. While the average settlement rate from sales proceeds is 1.27%, the SEC said Terraform’s charges are lower because it took other important factors into consideration. For one, the regulator said it considered that Terraform Labs is in bankruptcy and does not have enough liquidity to pay a higher fine. The SEC also pointed out that while Terraform Labs agreed to stop its actions that led to the violations, Ripple Labs has continued the same actions that prompted the lawsuit in the first place.While the notice of supplemental authority filed by Ripple Labs is a way to add more evidence, the decision on the appropriate remedy is still expected from the court..
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
XRP Case: Ripple Hits Back at SEC Using TerraForm Labs RulingIn XRP legal saga, Ripple leverages TerraForm Labs case to counter SEC's penalties
Read more »
Terraform, Do Kwon to reach fraud settlement with SECTerraform Labs and CEO Do Kwon are finalizing a settlement with the Securities and Exchange Commission. Both parties are expected to submit the final terms for court approval by mid-June.
Read more »
Terraform, Do Kwon Agree in Principle to Settle Fraud Case With SEC: Court FilingAmitoj Singh is a CoinDesk reporter.
Read more »
Terraform Labs, Do Kwon reach a 'settlement in principle' with US SEC, according to court entryTerraform Labs and Do Kwon have 'reached a settlement in principle,' with the SEC, according to a court entry.
Read more »
Terraform Labs, Do Kwon Agree to Pay SEC a Combined $4.5B in Civil Fraud CaseCheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.
Read more »
Terraform set to pay $4.47 billion in settlement to the SEC over lawsuitTerraform Labs reached an agreement with the Securities & Exchange Commission (SEC) on Wednesday to pay a settlement fee of $4.47 billion over a civil fraud lawsuit.
Read more »