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In December 2020, the SEC sued Ripple, the core developer behind the cryptocurrency XRP. Central to the agency’s allegations were that XRP was an unregistered security, or similar to shares in a ...
XRP would also benefit if this lawsuit ends and if it is no longer the poster child for the SEC's efforts to have more regulatory authority over cryptocurrencies.
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The U.S. Securities and Exchange Commission (SEC) slapped Ripple with a lawsuit in 2020, alleging that the XRP token is a financial security (like a stock or a bond). Companies that issue ...
The defendants agreed to turn over all data involving XRP transactions. [30] In July 2023, the district court ruled on the SEC lawsuit, finding that the XRP token sold by Ripple Labs was not a security. However, if sold in institutional sales, or used as a fundraiser, such actions could be classified as a security in those circumstances.
The SEC brought the suit in 2020, accusing Ripple of illegally raising money by selling XRP without registering it as a security. The XRP price surge also comes as investors bet on the future of ...
The XRP Ledger operates on a consensus protocol that differs from traditional proof-of-work (PoW) and proof-of-stake (PoS) mechanisms. [ 8 ] [ 3 ] Transactions are validated by a network of independent validators who reach consensus every 3 to 5 seconds, enabling rapid transaction settlement. [ 8 ]
XRP was up 75% by late afternoon on Thursday, according to Refinitiv Eikon data. ... The ruling by U.S. District Judge Analisa Torres was the first win for a cryptocurrency company in a case ...