Ripple猛烈抨擊SEC的“過高”罰款，指責該機構“沙袋”

Ripple Labs 強烈反對美國證券交易委員會 (SEC) 對 XRP 銷售提出的 20 億美元巨額罰款，稱其過度且不成比例。 Ripple 辯稱，SEC 將 XRP 歸類為證券是有缺陷的，其處罰要求「沒有法律或原則依據」。該公司提出了一項動議，要求刪除 SEC 的專家證人資料，指控其在發現過程中隱藏訊息，從而採取「沙袋」策略。儘管 SEC 要求迅速做出裁決，Ripple 仍認為此案應繼續審理，預計將於 4 月做出最終判決。這場爭端點燃了加密貨幣社群的情緒，主要參與者紛紛介入，XRP 價格因對結果的預期而飆升。

Ripple Rebuts SEC's Exorbitant Fine Proposal, Accuses Regulator of 'Sandbagging'

Ripple反駁SEC的過高罰款提議，指責監管機構“沙袋”

In a scathing indictment of the Securities and Exchange Commission's (SEC) recent fine proposal, Ripple Labs has fired back, calling it "more evidence of the administrative overreach that has beset this case." The SEC's requested $2 billion penalty, encompassing disgorgement, pre-judgment interest, and a civil penalty, has been met with vehement opposition from Ripple, which argues that the fine is "ungrounded in law or principle" and "wholly out of proportion to any violation that Ripple may have committed."

Ripple Labs 在對美國證券交易委員會 (SEC) 最近的罰款提議的嚴厲起訴中進行了反擊，稱其為「困擾此案的行政越權行為的更多證據」。 SEC 要求的 20 億美元罰款，包括沒收非法所得、判決前利息和民事處罰，遭到了 Ripple 的強烈反對，Ripple 認為這一罰款“沒有法律或原則依據”，並且“與任何處罰完全不相稱”。 Ripple 可能犯下的違規行為。

Central to the dispute is the classification of XRP, Ripple's native token. The SEC alleges that XRP constitutes a security, a designation that would subject it to registration requirements under federal securities laws. Ripple vehemently disagrees, maintaining that XRP is a utility token used for facilitating cross-border payments and, therefore, beyond the SEC's regulatory purview.

爭議的核心是 Ripple 原生代幣 XRP 的分類。美國證券交易委員會聲稱 XRP 構成一種證券，這一名稱將使其遵守聯邦證券法的註冊要求。 Ripple 強烈反對，堅稱 XRP 是一種用於促進跨境支付的實用代幣，因此超出了 SEC 的監管權限。

Ripple contends that its sales of XRP largely occurred outside the United States and did not involve U.S. investors. Moreover, the company emphasizes that it has taken proactive steps to modify its sales practices and ensure that its counterparties qualify as accredited investors. In Ripple's view, the SEC's "draconian remedial requests" are "ungrounded in law or principle" and should be rejected in their entirety.

Ripple 聲稱其 XRP 銷售主要發生在美國境外，不涉及美國投資者。此外，該公司強調，它已採取積極措施修改其銷售做法，並確保其交易對手有資格成為合格投資者。 Ripple 認為，SEC 的“嚴厲補救要求”“沒有法律或原則依據”，應該被完全拒絕。

Adding further fuel to the fire, Ripple has also accused the SEC of "sandbagging," a tactic in which a party withholds information until a strategic moment to gain an advantage. Specifically, Ripple alleges that the SEC belatedly submitted expert witness materials supporting its fine request and failed to disclose them during the discovery phase. This late disclosure, Ripple argues, constitutes a violation of the Federal Rule of Civil Procedure and has prejudiced Ripple's ability to fully prepare its defense.

火上澆油的是，Ripple 還指責 SEC 採取「沙袋」策略，即一方隱瞞訊息，直到獲得優勢的戰略時刻。具體來說，Ripple 聲稱 SEC 遲遲提交了支持其罰款請求的專家證人資料，並且在發現階段未能披露這些資料。 Ripple 認為，這種遲到的披露違反了聯邦民事訴訟規則，並損害了 Ripple 充分準備辯護的能力。

Amidst this legal wrangling, XRP has experienced a surge in value in recent days, with analysts predicting further growth following the upcoming Bitcoin halving. The bullish sentiment surrounding XRP may be a reflection of investors' confidence in Ripple's ability to successfully navigate the SEC's regulatory challenges.

在這場法律糾紛中，XRP 的價值最近幾天經歷了飆升，分析師預測在即將到來的比特幣減半後將進一步增長。圍繞 XRP 的看漲情緒可能反映了投資者對 Ripple 成功應對 SEC 監管挑戰的能力的信心。

The timeline of significant events in the Ripple-SEC case includes:

Ripple-SEC 案件中重大事件的時間表包括：

• December 21, 2020: SEC files lawsuit against Ripple Labs, CEO Brad Garlinghouse, and Co-Founder Chris Larsen.
• March 3, 2021: XRP holders led by John E. Deaton contest the SEC's lawsuit, arguing that XRP is not a security.
• March 22, 2021: Judge Netburn distinguishes XRP from BTC and ETH in terms of currency value and utility.
• August 31, 2021: Ripple files a motion requesting the SEC disclose its internal crypto trading policies.
• September 17, 2022: Both the SEC and Ripple file motions for summary judgment.
• November 7, 2022: The LBRY blockchain loses a similar case against the SEC, resulting in a decline in XRP's value.
• November 30, 2022: SEC and Ripple submit final submissions to the summary judgment motions.
• January 2023: Multiple organizations, including Coinbase, submit amicus briefs in support of Ripple.
• March 3, 2023: Ripple files a Supreme Court letter to Judge Torres.
• March 6, 2023: Judge Torres excludes expert testimony from the summary judgment process.
• April 16, 2023: John E. Deaton shares a video of Tim Draper and Gary Gensler discussing potential lawsuits and the influence on financial regulators.
• April 18, 2023: SEC Chair Gary Gensler testifies at a congressional hearing without revealing whether ether was considered a security.
• April 22, 2024: Ripple files its opposition to the SEC's fine request and a motion to strike expert testimonies due to "sandbagging."

The SEC's lawsuit against Ripple, one of the most prominent legal battles in the cryptocurrency industry, has far-reaching implications for the regulation of digital assets. The outcome of the case has the potential to shape the regulatory landscape for years to come, with broader implications for the development and adoption of cryptocurrency and blockchain technology.

2020 年12 月21 日：SEC 對Ripple Labs、執行長Brad Garlinghouse 和共同創辦人Chris Larsen 提起訴訟。 ，認為XRP 不是證券。交易政策。日：SEC 和Ripple 提交簡易判決動議的最終意見。封最高法院信函。機構的影響的影片。並以「沙袋」為由提出了駁回專家證詞的動議。該案的結果有可能塑造未來幾年的監管格局，對加密貨幣和區塊鏈技術的開發和採用產生更廣泛的影響。