The legal spat between Ripple Labs with the Securities and Exchange Commission (SEC) regarding XRP, is heating up. The SEC is asking for a $2 billion fine against Ripple, but the recent films indicate that the judge is more likely to disagree will the request.
SEC’s Case Relies on Weak Precedent
Legal experts are criticizing the SEC’s arguments. As for James Murphy, the attorney representing Ripple, he claims that SEC cites a rather weak court decision (SEC v. iFresh) to back up the claim about investors being harmed. The SEC claims Ripple inflated XRP prices, harming investors who didn’t receive expected discounts.
According to Jeremy, Attorney, a tactical problem is that the SEC does not provide any transparency while deciding about launching coins. The brought up issues have arisen doubts about SEC’s case against Ripple. Judge Torres is more likely to reject SEC’s fine against Ripple based on the shaky foundation and lack of enough evidence of the SEC’s arguments.
  Also Read: Stablecoin Market to Hit $3T by 2028, Ripple at Forefront
