Opinion: Ripple counters SEC’s $2 billion fine for XRP sales, advocates reduction to $10 million

According to CryptoPotato, Ripple is arguing with the U.S. Securities and Exchange Commission (SEC) over fines for XRP sales. The SEC originally requested a fine of US$2 billion for Ripple, but Ripple advocated reducing the fine to US$10 million. Some predictions believe that it may reach 1 billion dollar settlement. Ripple’s lawsuit with the SEC has been ongoing since December 2020, and recent actions by both parties have heated up the lawsuit. Last month, the SEC accused Ripple of violating XRP sales regulations and requested a $2 billion fine. However, Ripple’s chief legal officer Stuart Alderoty said earlier this week that the company has formally opposed the SEC’s request, listing several important reasons why the fine should not exceed $10 million. At this time, the future outcome of the lawsuit remains uncertain, with many industry participants speculating on what will happen next. Well-known lawyer Jeremy Hogan recently expressed his opinion that the legal dispute may be resolved by paying a settlement of $100 million. He also believes that based on what he's seen so far, the case could be concluded by July or August of this year. It is worth noting that the case has recently entered the final stage, with the trial beginning on April 23.