Ripple seeks fine of up to $10 million

Previously, Ripple filed 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 "show that Ripple disregarded the law." The court should impose a fine of "no more than $10 million." Ripple said that although any violation of the Securities Act is a "serious matter," the company's violations should not be punished so highly. The document pointed out that "Ripple's institutional sales are far less serious than other crimes such as mixed funds or fraud." (Blockworks) Earlier, Ripple had filed an objection to the US SEC's motion to ask the judge to impose a $2 billion fine on it.