SEC Files Another Brief in Ripple Remedies Phase as Penalty Debate Continues
The SEC submitted a new filing in the Ripple remedies dispute, prolonging the debate over the final penalty.
The U.S. Securities and Exchange Commission (SEC) has submitted another filing in the remedies phase of its ongoing lawsuit against Ripple Labs, further delaying the resolution of the final penalty. The filing is the latest development in a back-and-forth over what sanctions the court should impose on Ripple for its institutional sales of XRP.
Context of the Filing
The remedies phase began after Judge Analisa Torres ruled in July 2023 that Ripple's programmatic sales of XRP to retail investors did not violate securities laws, but its direct sales to institutions did. Both sides have since been arguing over the appropriate penalty, with the SEC seeking a substantial fine and disgorgement, while Ripple argues for a minimal penalty.
This new SEC filing is part of the ongoing briefing schedule ordered by the court. The exact contents of the filing have not been disclosed publicly yet, but it likely addresses Ripple's objections to the SEC's proposed remedies.