TL;DR
Ripple uses a recent Binance ruling to argue against harsh penalties in their SEC lawsuit, citing regulatory uncertainty.
The agency has reduced its proposed penalty from $2 billion to $102.6 million, while the company argues for a maximum fine of $10 million.
Ripple on the Move
The legal confrontation between Ripple and the US Securities and Exchange Commission (SEC) has witnessed numerous developments as of late.
Most recently, the company filed a Notice of Supplemental Authority regarding a recent decision related to crypto exchange Binance. Last week, Judge Amy Jackson dismissed the regulator’s claims that secondary market sales of Binance’s BNB token constituted securities transactions.
Ripple seemingly intends to use that ruling in its favor. The firm’s legal counsel, Michael Kellogg, argued that the recent magistrates’ decision supports Ripple’s case that its alleged illegal sales of XRP do not warrant “harsh remedies” as the agency claims.
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We współpracy z: https://cryptopotato.com/important-ripple-v-sec-update-july-3/
