{"id":12645,"date":"2024-03-29T12:09:45","date_gmt":"2024-03-29T16:09:45","guid":{"rendered":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/"},"modified":"2024-03-29T12:09:45","modified_gmt":"2024-03-29T16:09:45","slug":"ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec","status":"publish","type":"post","link":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/","title":{"rendered":"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-v-25cc9d4a=\"\">\n<p>A United States Securities and Exchange Commission (SEC) brief detailing proposed fines and penalties for blockchain firm Ripple describes a different narrative than the one pushed by the company\u2019s executives.\u00a0<\/p>\n<p>In a March 25 filing in U.S. District Court for the Southern District of New York, attorneys for the SEC proposed Ripple pay $876,308,712 in disgorgement and $198,150,940 in prejudgment interest and a $876,308,712 civil penalty \u2014 roughly $1.95 billion total. According to the regulator, the fines and penalties were appropriate based on Ripple\u2019s \u201cdefiance of the law,\u201d continuing to sell XRP after legal warnings.<\/p>\n<p>\u201cRipple is well-positioned to pay a significant civil penalty,\u201d said the SEC. \u201cAnd one is warranted here both because a civil penalty should not be just the cost of doing business for a securities law violator, as the Second Circuit has held, and because the need for deterrence is clear given Ripple\u2019s enormous amount of unregistered sales of XRP over the last three years.\u201d<\/p>\n<figure><figcaption style=\"text-align: center;\">Source: Courtlistener<\/figcaption><\/figure>\n<p>The filing was consistent with what Ripple Chief Legal Officer Stuart Alderoty claimed would be made public in a March 25 X post: roughly $2 billion in fines and penalties. Alderoty claimed the SEC intended to \u201cpunish and intimidate\u201d Ripple, adding the firm planned to file a response to the proposed judgment in April.<\/p>\n<p>The proposed SECorder added:<\/p>\n<blockquote><p>\u201cOnly a significant sanction from this Court and the return of the ill-gotten gains Ripple made from its violations will cause Ripple to correct its conduct.\u201d<\/p><\/blockquote>\n<p><strong>Related: <\/strong><strong>RippleX addresses XRP ledger\u2019s AMM pool error, advises user caution<\/strong><\/p>\n<p>Filed in December 2020, the SEC\u2019s lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen alleged the firm raised $1.3 billion in unregistered securities through sales of XRP tokens. The case made waves in the crypto space when Judge Analisa Torres ruled in July 2023 that XRP was not a security\u00a0regarding programmatic sales on digital asset exchanges.<\/p>\n<p><strong>Magazine: <\/strong><strong>ETH a security? Celsius clawbacks, SBF says sentence too harsh: Hodler\u2019s Digest, March 17-23<\/strong><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/ripple-pay-significant-civil-penalty-sec\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A United States Securities and Exchange Commission (SEC) brief detailing proposed fines and penalties for blockchain firm Ripple describes a different narrative than the one pushed by the company\u2019s executives.\u00a0 In a March 25 filing in U.S. District Court for the Southern District of New York, attorneys for the SEC proposed Ripple pay $876,308,712 in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-12645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC - Sikaoer - The Best Crypto News Site.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC\" \/>\n<meta property=\"og:description\" content=\"A United States Securities and Exchange Commission (SEC) brief detailing proposed fines and penalties for blockchain firm Ripple describes a different narrative than the one pushed by the company\u2019s executives.\u00a0 In a March 25 filing in U.S. District Court for the Southern District of New York, attorneys for the SEC proposed Ripple pay $876,308,712 in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/\" \/>\n<meta property=\"og:site_name\" content=\"Sikaoer - The Best Crypto News Site.\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-29T16:09:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/s3.cointelegraph.com\/uploads\/2024-03\/55983c2d-45b4-44d8-9999-84dcb6c3fc71.png\" \/>\n<meta name=\"author\" content=\"SikaoerAdmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"SikaoerAdmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/\"},\"author\":{\"name\":\"SikaoerAdmin\",\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/person\/43f022757a102cf0dbe32031e6c7cf67\"},\"headline\":\"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC\",\"datePublished\":\"2024-03-29T16:09:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/\"},\"wordCount\":341,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/sikaoer.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/03\/\u2018Ripple-is-well-positioned-to-pay-a-significant-civil-penalty\u2018-says.jpg\",\"articleSection\":[\"Ripple\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/\",\"url\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/\",\"name\":\"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC - Sikaoer - The Best Crypto News Site.\",\"isPartOf\":{\"@id\":\"https:\/\/sikaoer.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/03\/\u2018Ripple-is-well-positioned-to-pay-a-significant-civil-penalty\u2018-says.jpg\",\"datePublished\":\"2024-03-29T16:09:45+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#primaryimage\",\"url\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/03\/\u2018Ripple-is-well-positioned-to-pay-a-significant-civil-penalty\u2018-says.jpg\",\"contentUrl\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/03\/\u2018Ripple-is-well-positioned-to-pay-a-significant-civil-penalty\u2018-says.jpg\",\"width\":1200,\"height\":799,\"caption\":\"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/sikaoer.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/sikaoer.com\/#website\",\"url\":\"https:\/\/sikaoer.com\/\",\"name\":\"Sikaoer\",\"description\":\"Latest Bitcoin &amp; Cryptocurrency News\",\"publisher\":{\"@id\":\"https:\/\/sikaoer.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/sikaoer.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/sikaoer.com\/#organization\",\"name\":\"Sikaoer - The Best Crypto News Site.\",\"url\":\"https:\/\/sikaoer.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2023\/04\/logo-2.jpg\",\"contentUrl\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2023\/04\/logo-2.jpg\",\"width\":150,\"height\":120,\"caption\":\"Sikaoer - The Best Crypto News Site.\"},\"image\":{\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/person\/43f022757a102cf0dbe32031e6c7cf67\",\"name\":\"SikaoerAdmin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d9aa1aaa8881206cba9ed81b39cf5aee?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d9aa1aaa8881206cba9ed81b39cf5aee?s=96&d=mm&r=g\",\"caption\":\"SikaoerAdmin\"},\"sameAs\":[\"https:\/\/sikaoer.com\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC - Sikaoer - The Best Crypto News Site.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/","og_locale":"en_US","og_type":"article","og_title":"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC","og_description":"A United States Securities and Exchange Commission (SEC) brief detailing proposed fines and penalties for blockchain firm Ripple describes a different narrative than the one pushed by the company\u2019s executives.\u00a0 In a March 25 filing in U.S. District Court for the Southern District of New York, attorneys for the SEC proposed Ripple pay $876,308,712 in [&hellip;]","og_url":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/","og_site_name":"Sikaoer - The Best Crypto News Site.","article_published_time":"2024-03-29T16:09:45+00:00","og_image":[{"url":"https:\/\/s3.cointelegraph.com\/uploads\/2024-03\/55983c2d-45b4-44d8-9999-84dcb6c3fc71.png","type":"","width":"","height":""}],"author":"SikaoerAdmin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"SikaoerAdmin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#article","isPartOf":{"@id":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/"},"author":{"name":"SikaoerAdmin","@id":"https:\/\/sikaoer.com\/#\/schema\/person\/43f022757a102cf0dbe32031e6c7cf67"},"headline":"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC","datePublished":"2024-03-29T16:09:45+00:00","mainEntityOfPage":{"@id":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/"},"wordCount":341,"commentCount":0,"publisher":{"@id":"https:\/\/sikaoer.com\/#organization"},"image":{"@id":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#primaryimage"},"thumbnailUrl":"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/03\/\u2018Ripple-is-well-positioned-to-pay-a-significant-civil-penalty\u2018-says.jpg","articleSection":["Ripple"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/","url":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/","name":"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC - Sikaoer - The Best Crypto News Site.","isPartOf":{"@id":"https:\/\/sikaoer.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#primaryimage"},"image":{"@id":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#primaryimage"},"thumbnailUrl":"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/03\/\u2018Ripple-is-well-positioned-to-pay-a-significant-civil-penalty\u2018-says.jpg","datePublished":"2024-03-29T16:09:45+00:00","breadcrumb":{"@id":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#primaryimage","url":"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/03\/\u2018Ripple-is-well-positioned-to-pay-a-significant-civil-penalty\u2018-says.jpg","contentUrl":"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/03\/\u2018Ripple-is-well-positioned-to-pay-a-significant-civil-penalty\u2018-says.jpg","width":1200,"height":799,"caption":"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC"},{"@type":"BreadcrumbList","@id":"https:\/\/sikaoer.com\/ripple-is-well-positioned-to-pay-a-significant-civil-penalty-says-sec\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/sikaoer.com\/"},{"@type":"ListItem","position":2,"name":"\u2018Ripple is well-positioned to pay a significant civil penalty,\u2018 says SEC"}]},{"@type":"WebSite","@id":"https:\/\/sikaoer.com\/#website","url":"https:\/\/sikaoer.com\/","name":"Sikaoer","description":"Latest Bitcoin &amp; Cryptocurrency News","publisher":{"@id":"https:\/\/sikaoer.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/sikaoer.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/sikaoer.com\/#organization","name":"Sikaoer - The Best Crypto News Site.","url":"https:\/\/sikaoer.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/sikaoer.com\/#\/schema\/logo\/image\/","url":"https:\/\/sikaoer.com\/wp-content\/uploads\/2023\/04\/logo-2.jpg","contentUrl":"https:\/\/sikaoer.com\/wp-content\/uploads\/2023\/04\/logo-2.jpg","width":150,"height":120,"caption":"Sikaoer - The Best Crypto News Site."},"image":{"@id":"https:\/\/sikaoer.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/sikaoer.com\/#\/schema\/person\/43f022757a102cf0dbe32031e6c7cf67","name":"SikaoerAdmin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/sikaoer.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d9aa1aaa8881206cba9ed81b39cf5aee?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d9aa1aaa8881206cba9ed81b39cf5aee?s=96&d=mm&r=g","caption":"SikaoerAdmin"},"sameAs":["https:\/\/sikaoer.com"]}]}},"_links":{"self":[{"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/posts\/12645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/comments?post=12645"}],"version-history":[{"count":0,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/posts\/12645\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/media\/12646"}],"wp:attachment":[{"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/media?parent=12645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/categories?post=12645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/tags?post=12645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}