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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 ...
In my article, I talked about how there was upside potential if its developer, Ripple Labs, beat the civil case filed against it by the Securities and Exchange Commission (SEC).
However, Ripple’s, and thus XRP’s, future success could hinge on the ongoing lawsuit by the SEC. Daria Uhlig contributed to the reporting for this article. Data is accurate as of Dec. 13, 2022 ...
The XRP Ledger peer-to-peer overlay network is characterized by a small-world network topology, featuring a tightly clustered structure and short paths between nodes. [12] Information systems expert Mary Lacity notes that this platform "uses much less electricity than Bitcoin—about as much electricity as it costs to run an email server".
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.
Shares in Silvergate Capital, an influential banker to the cryptocurrency industry, plunge 57.7% after the group said in a filing with the SEC that it would not be able to submit its annual 10-K report in time. [84] [85] 7 March 2023 The SEC freezes BKCoin transactions and accuses it of being a fraud after they raised $100M. [86] 8–9 March 2023
XRP is on the move today, testing resistance levels early. Uncertainty over the outcome of the SEC v Ripple case remains, however, ahead of a key ruling.
The SEC separately brought a civil enforcement action in the US against Garza, who was eventually ordered to pay a judgment of $9.1 million plus $700,000 in interest. The SEC's complaint stated that Garza, through his companies, had fraudulently sold "investment contracts representing shares in the profits they claimed would be generated" from ...
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