SEC Seeks $1.9 Billion

Judgment Against Ripple

Labs

According to Blockworks, the Securities

and Exchange Commission (SEC) has filed

its proposed final judgment in its case

against Ripple Labs, seeking a $1.9 billion

judgment. Ripple CEO Brad Garlinghouse

and Chief Legal Officer Stuart Alderoty

announced the news on X Monday, stating

that the company will file its response next

month. Alderoty criticized the SEC for

trading in false and misleading statements,

while Garlinghouse accused the agency of

acting outside the law.

the judge grants the SEC's motion,

Ripple would be required to pay the $1.9

billion within 30 days of the judgment.

Additionally, the company would be

permanently restrained from conducting

unregistered offerings of Institutional

Sales. The SEC and Ripple have been

engaged in a multi-year legal battle, with

the US regulator alleging that Ripple

knowingly violated securities laws.

Last summer, Judge Analisa Torres issued

a summary judgment that dealt a blow to

the SEC's initial suit but did not result in a

complete win for Ripple. Torres ruled that

the institutional sales of Ripple's XRP

token could be categorized as unregistered

securities transactions, but she also fo

that the programmatic sales did not

qualify.

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