币界网报道：Ripple Labs has filed a response to the U.S. Securities and Exchange Commission's (SEC) proposed $2 billion penalty, arguing the fine is excessive and unwarranted. The blockchain firm contends the SEC failed to demonstrate that institutional XRP buyers suffered actual financial harm from its sales practices. Ripple's legal team asserts the penalty should not exceed $10 million, citing comparable cases where fines were substantially lower. The company maintains that XRP is not a security and that its on-demand liquidity product does not violate securities laws. This latest filing comes as part of an ongoing legal battle that began in December 2020 when the SEC accused Ripple of conducting an unregistered securities offering through XRP sales. The case has drawn significant attention as it could set important precedents for how cryptocurrencies are regulated in the U.S. A final decision from Judge Analisa Torres is expected later this year.