Ripple ally v. SEC: Plaintiff insists on maximum penalty of $22 million RippleXRP XRPArmy XRPCommunity XRPHolders
regarding the LBRY case, the SEC has filed its opposition to LBRY's motion to limit the SEC's remedies.
The SEC claims that"a penalty equal to LBRY’s full pecuniary gain of $22,151,971 is fair and reasonable under the circumstances." The SEC doesn't want to regulate crypto; it wants to kill it in the United States.After the submission of the settlement proposal, both parties met to discuss the terms on Nov. 29 but were unable to resolve the terms of the remedies sought by the regulator.
According to the SEC, LBRY's gross receipts for its Section 5 violation equaled the value it received in exchange for its sale of 280 million LBC from its premine and market-making activity on multiple crypto asset trading platforms. It approximates this to be over $22 million.
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