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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 ...
The SEC lawsuit has been an overhang on XRP's price until recently. It looks more likely the case will soon end once and for all. All cryptocurrencies face a more favorable regulatory backdrop ...
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 ...
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 ]
The defendants agreed to turn over all data involving XRP transactions. [33] 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.
A disgruntled XRP investor has filed a class-action lawsuit against Ripple, alleging that the company violated US and state-level securities regulations by selling the token to the general public.
The SEC has brought a number of high-profile lawsuits against both top issuers and exchanges, beginning with with a 2020 complaint against Ripple, the company behind the popular XRP cryptocurrency ...
The SEC had been seeking fines and penalties totaling $2 billion in its case against Ripple Labs, its chief legal officer Stuart Alderoty said in March. The SEC previously sued Ripple, its CEO ...