Ripple has achieved significant partial legal victories throughout 2023 in its ongoing legal battle with the US Securities and Exchange Commission (SEC). 🏛️ The potential penalty is still controversial, with the SEC recommending a penalty of $102.6 million while the company appears to be seeking a maximum penalty of $10 million.
The legal conflict between Ripple and the SEC remains one of the most intriguing topics in the crypto space. Ripple was accused of illegally raising more than $1.3 billion through an unregistered securities offering through the sale of XRP.
Ripple has the upper hand after scoring three significant (but partial) court victories. 🏆 The price of XRP increased by over 70% within 24 hours after this decision.
Ripple's potential fine has become another sticking point in the case. While the SEC initially sought a penalty of $2 billion, the company appeared to seek no more than $10 million.
Although the case is in its final stages, a conclusion may be delayed indefinitely due to the complexity of the legal process and possible objections from both sides. But some optimists believe a deal could happen in the coming weeks.