The SEC is seeking a whopping **$2 billion in fines and penalties** against Ripple Labs, according to Stuart Alderoty, Ripple's chief legal officer. This move comes amidst an ongoing civil case since 2020, where the SEC alleges Ripple raised $1.3 billion through unregistered securities sales of XRP tokens. Ripple plans to respond to the SEC's request in April, criticizing the regulator for allegedly trading in false statements. Ripple CEO Brad Garlinghouse vows to continue exposing the SEC for its actions. Interestingly, a judge recently sanctioned the SEC for acting in "bad faith." Notably, Judge Analisa Torres ruled in July 2023 that XRP is not a security, potentially influencing the SEC's dismissal of charges against Garlinghouse and co-founder Chris Larsen in October 2023. The SEC's actions are part of a broader crackdown on crypto firms in the US, including ongoing lawsuits against major players like Coinbase, Binance, and Kraken. 🚀 #CryptoLegalBattle #RippleVsSEC