According to Mars Finance, Ripple previously submitted an objection to the US SEC's motion to impose a $2 billion fine on it. In this objection, Ripple argued that the SEC did not accuse it of "fraud, deception" or manipulation, and the case failed to "demonstrate that Ripple disregarded the law" and the court should impose a fine of "no more than $10 million."
Ripple said that while any violation of the Securities Act is a "serious matter," the company's violations should not be subject to such high penalties. The document states that "Ripple's institutional sales are far less serious than other crimes such as commingling funds or fraud." (Blockworks)
Earlier news, Ripple has filed an objection to the US SEC's motion asking the judge to impose a $2 billion fine on it.
