On June 15, defense attorney and former federal prosecutor James K. Filan posted documents on social media showing that the SEC responded to Ripple's request for a “lower fine” yesterday and requested demanded a fine of $102.6 million instead of Ripple's insistence on a lower fine. 

The cap is $10 million and argued that the lower penalty was inconsistent with the intent of the civil penalties statute.

Detail :

On June 15, defense attorney and former federal prosecutor James K. Filan posted documents on social media showing that the SEC responded to Ripple's request for a “lower fine” yesterday and requested demanded a fine of $102.6 million instead of Ripple's insistence on a lower fine. 

The cap is $10 million and argued that the lower penalty was inconsistent with the intent of the civil penalties statute.

Detail : https://x.com/FilanLaw/status/1801755432102383850