The Securities and Exchange Commission is asking for a New York judge for $2 billion in fines and penalties in its case against Ripple Labs Inc., according to the firm's chief legal officer.

The filings, which Ripple Chief Legal Officer Stuart Alderoty said will be made public on Tuesday, are part of the continuing saga of its years-long case with the SEC.

"Our response will be filed next month, but as we all have seen time and again, this is a regulator that trades in statements that are false, mischaracterized and designed to mislead," Alderoty posted on X on Monday. "They stayed true to form here. Rather than faithfully apply the law, the SEC remains bent on wanting to punish and intimidate Ripple - and the industry at large."

The SEC did not immediately respond to a request for …