SEC seeks enormous 300% of unregistered sales from Ripple

SEC pursues an unprecedented 300% of unregistered sales from Ripple, a move that legal experts deem to be an abuse of power. In comparison to other cases, where the SEC collected 11% of unregistered sales claims, the regulatory watchdog is demanding a significantly larger amount from Ripple. For instance, Telegram paid $1.24 billion (1.7 billion minus 1.24 billion) in remedies, LBRY paid only 1%, Kik paid 5%, and Kraken paid 20.41%. In contrast, the SEC has requested a staggering $2 billion in fines and penalties from Ripple, which is around a 275% increase compared to the declared institutional XRP sales of $729 million. This disproportionate request has drawn criticism from legal experts and commentators, who view it as an abusive and targeted action by the SEC. Meanwhile, the XRP token has experienced negative consequences from the ongoing legal battle, with its value declining by 2.46% on the day and experiencing a 7.21% drop over the previous week and a 9.63% loss over the past month.