The SEC reduced Ripple's fine from $2 billion to $102 million, but Ripple rejected the decision.
Ripple has spent more than $200 million fighting the SEC over #cryptocurrency defenses.
The potential policy change could reduce SEC Chairman Gensler's influence, which would benefit the crypto industry.
The legal battle between #Ripple Labs and the U. S. Securities and Exchange Commission (SEC) is entering a crucial phase. The SEC initially demanded a $2 billion fine, which was reduced to $102 million. However, Ripple did not accept this reduced offer, indicating that the controversy continues.
Legal experts are unsure whether the case will end in a settlement or a court ruling. Given the looming political changes and other major cryptocurrency companies clashing with the SEC, the outcome of the lawsuit is highly anticipated.
Fifteen days ago, the SEC offered Ripple $102 million, which was significantly less than the original demand of $2 billion. Despite the fact that it was expected that Ripple would soon accept the offer, the company decided to continue the dispute. This decision stems from a long history of what Ripple and the #XRP community believe to be unfair treatment and harassment by the SEC.
While the SEC's original goal was to protect individual investors, the SEC's actions regarding XRP have been widely criticized; Ripple's legal fight, which has cost more than $200 million, is seen as a battle for the entire crypto industry.
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