🚨 The #SEC has labeled Ripple's planned stablecoin as an "unregistered crypto asset" in its latest court filings.
The SEC is pushing for substantial fines, nearly $2 billion, arguing that Ripple's penalty demands are too lenient given their past violations involving $XRP
#Ripple disputes the SEC's position, suggesting a maximum civil penalty of $10 million and criticizing the SEC's disregard for crypto regulatory frameworks established outside the U.S.