Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.
The biggest and most established global hub for everything crypto, blockchain and Web3.The U.S. Securities and Exchange Commission is apparently asking a New York judge to levy a $2 billion judgment against Ripple Labs, according to social media posts from the crypto company’s CEO and chief legal officer on Monday.
The judgment would bring an end to this phase of the multi-year legal battle between Ripple Labs and the SEC, which began in December 2020 when the SEC filed suit against the crypto firm and its executives, alleging that they violated federal securities laws by selling XRP to both institutional and retail customers.
that Ripple violated federal securities laws in directly selling XRP to institutional investors, though not in selling XRP to retail investors through exchanges.that the company will fight back against the proposed judgement motion.
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