Ripple Disputes SEC’s Allegations Regarding Past Contracts and XRP Sales

Ripple Labs has intensified its defense against the US Securities and Exchange Commission (SEC) by addressing two crucial points in their ongoing legal battle. In a new filing to Judge Analisa Torres of the Southern District of New York, Ripple argues against the SEC’s claim that its current financial condition should impact the court’s ruling on past penalties. Ripple suggests a $10 million penalty, while the SEC is seeking penalties of nearly $2 billion. Ripple asserts that its financial situation at the moment is irrelevant to the court’s analysis of past behavior. The company also defends the confidentiality of its historical contracts and financial information, countering the SEC’s assertion that changes in the XRP sales process make previous contracts obsolete. Ripple argues that these previous contract terms are private and economically sensitive, and that revealing them is unnecessary. Additionally, Ripple refutes the SEC’s claim that XRP prices must be made public under securities legislation, highlighting that the court has already ruled that XRP is not a security. Ripple emphasizes its right to privacy and business sensitivity, stating that it has a valid basis for sealing its confidential financial documents.