The SEC has asked a New York judge to impose a fine of $1.95 billion on Ripple Labs.

On Monday, Stuart Alderode, Ripple Labs chief legal officer posted on social media that the SEC was asking for such a fine and that redacted versions of the court documents would be made public today.

The SEC proposal asks the court to order Ripple Labs to pay $876 million in disgorgement,

$198 million in prejudgment interest, and $876 million in a civil penalty that amounts to a total of $1.95 billion.

The case began in December 2020 when the SEC filed a suit against Ripple Labs and its executives,

alleging that they violated federal securities laws by selling XRP to institutional and retail customers.

Last July, a New York judge ruled that the sale of XRP on exchanges

and through algorithms did not violate U.S. law. Only Ripple's institutional sales of XRP did.

Cryptot traders are capitalizing on the base blockchain, which has seen a surge in activity

and funds locked due to a meme coin frenzy.

Base, which was built by Crypto Exchange Coinbase, went live in August and initially saw

muted growth.

However, that changed recently with funds locked on the network rising to nearly a billion

dollars on Tuesday from $450 million at the start of the month.

According to data, prices of tokens like Toshi,

thank you base god, Normie, and Brett have risen as much as 1,300% over the past week.

And the London Stock Exchange said it will start a marketplace for Bitcoin and Ether

exchange traded notes on May 28th.

The Stock Exchange will accept applications

for trading the crypto ETNs from April 8th, while the market will be subject to approval

of UK regulator, the Financial Conduct Authority. Regulators have been moving to make the country

more crypto-friendly following several announcements from the UK government to make the country a crypto hub., following several announcements from the UK government

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