Ripple Ally Asks Court to Impose “Modest” Civil Penalty
Teknolohiya Hiniling ng Ripple Ally sa Korte na Magpataw ng “Katamtaman” na Parusang Sibil 12 / 26 / 2022 Balita ng Ethereum ng Bitcoin Alex Dovbnya The Commission and LBRY now find themselves at an impasse regarding the remedies the SEC can seek In its new court filing, cryptocurrency startup LBRY claims that the U.S. Securities and Exchange Commissions request for remedies showed a “complete disregard” of facts regarding members from the company being able to cause future securities violations. LBRY has asked the court to reject SECs demand for an injunction and disgorgement with a more modest civil penalty instead. In their filings, the defendants allege that the SEC is conflating LBRY and Odysee, two distinct entities engaged in separate operations. Moreover, they argued that the $22 million disgorgement demanded by the SEC was not based on factual numbers regarding profits caused by violations committed by LBRY. LBRY has asked for only a modest first-tier civil penalty rather than injunctive relief and disgorgement. Earlier this month, LBRY filed a motion to limit the SECs remedies. Bilang rna-eport ng U.Today, the Ripple ally lost its case against the SEC in early November.