SEC argues $2 billion penalty against Ripple is needed, slams $10 million counterproposal

The Securities and Exchange Commission is pushing back against Ripple's claim that it should pay fewer fines, according to a recent court filing. The SEC has said Ripple should pay close to $2 billion in fines for selling XRP to institutional investors. In its opposition motion filed last month, Ripple argued that the figure should be closer to $10 million. The SEC noted its proposed penalty was large but said Ripple's proposed penalty would be a "slap on the wrist" …