Ripple Labs is seeking to capitalize on the recent settlement between Terraform Labs and the U.S. Securities and Exchange Commission (SEC) to secure a lower fine in its ongoing legal dispute. The company has been engaged in a prolonged legal battle with the SEC and argues that the proposed $2 billion fine for its sale of XRP to institutional investors is excessive. In a supplemental authority notice filed on Thursday, Ripple drew parallels between its case and the penalty imposed on Terraform Labs, suggesting that its fine should be significantly lower, around $10 million.

Ripple's legal team pointed out that the SEC's proposed fine is unreasonable, especially when compared to the penalty imposed on Terraform Labs. The latter agreed to pay a fine of $44.7 billion, which was approved by a judge on Thursday. Ripple's lawyers argued that the SEC's stance in the Terraform case highlights the unreasonableness of the fine sought in their own case. They emphasized that in similar cases, the SEC has agreed to civil penalties ranging from 0.6% to 1.8% of the defendant's total income, a pattern that Terraform's settlement follows.

Ripple's legal battle with the SEC has been ongoing for several years, with the company maintaining that its sale of XRP did not violate securities laws. The SEC, on the other hand, alleges that Ripple's actions constituted a violation of federal securities laws. The outcome of this case is being closely watched, as it may have significant implications for the cryptocurrency industry as a whole.

By drawing parallels with the Terraform Labs case, Ripple is seeking to demonstrate that the SEC's proposed fine is disproportionate and unjustified. The company's legal team is arguing that a more reasonable fine would be in line with the penalties imposed in similar cases, such as Terraform's. As the legal battle continues, the cryptocurrency community awaits the outcome with bated breath.

In conclusion, Ripple Labs is seeking to leverage the recent settlement between Terraform Labs and the SEC to secure a reduced fine in its ongoing legal dispute. By highlighting the unreasonableness of the proposed fine, Ripple's legal team is hoping to persuade the court to impose a more reasonable penalty, one that is in line with the SEC's stance in similar cases. The outcome of this case will have significant implications for the cryptocurrency industry, and all eyes are on the court's decision.