According to Foresight News, the U.S. Securities and Exchange Commission (SEC) has declined Ripple's request for reduced penalties. The SEC stated in its response that 'Ripple would not agree to anything.'
Previously, Foresight News reported that the SEC was seeking a settlement of $102.6 million from Ripple. Ripple's Chief Legal Officer refuted the SEC's allegations, stating that there were no victims in the case requiring compensation. The SEC rejected Ripple's request to reduce the penalty, stating that a lower civil penalty would not be sufficient to resolve the issue.