How did Ripple respond to the SEC's fine request? What was the market reaction?

In the legal fight between Ripple and the SEC, the focus has turned to the $ 2 billion fine that the SEC demanded from the Blockchain company.

While the SEC demands $876 million in compensation from Ripple, it also demands nearly $200 million in interest. The regulator also said the company must pay an additional $876 million to cover civil penalties. This means that Ripple may end the legal process by paying a penalty of nearly 2 billion dollars. However, it seems that the Blockchain company does not accept the SEC's fine.

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In its response to the court on April 22, Ripple stated that the case was not caused by careless transactions or did not constitute fraud, and offered to pay a much lower fine. Accordingly, Ripple has a plan to pay a civil penalty of $10 million in its summary response.

In his statement, Ripple lawyer Stuart Alderoty interpreted the SEC's request as a step taken to intimidate the crypto industry in the USA. Ripple CEO Brad Garlinghouse made similar statements rejecting the fine, warning that the SEC's actions and policies would have negative effects in the long term.

In its summary response, Ripple also claimed that necessary updates had been made, that XRP sales had been brought into compliance in accordance with the court order, and that they were in compliance with regulatory requirements both in the US and internationally. Ripple also stated that they are willing to cooperate within the law in the future.

The low probability of a settlement in the litigation process, which is considered the biggest problem for XRP trading, seems to have disappointed the XRP community in general.

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