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The federal judge presiding over litigation between the Securities and Exchange Commission and the crypto firm Ripple said on Thursday that the SEC can file a motion to appeal a portion of her ...
In late 2020, the SEC accused Ripple Labs and two of its executives, Brad Garlinghouse and Christian Larsen, with violating securities laws when raising $1.3 billion through various sales of XRP ...
The fact that XRP only rallied by 25% in the aftermath of the SEC court ruling -- and then fell in price after that -- should tell you something: The market knows something about Ripple and XRP ...
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 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]
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2019: The SEC first contacts the LDS Church over its reporting structure. [9] 2020: EP files a consolidated disclosure for the first time. [11] 2023: On February 21, the SEC announces publicly the charges against the LDS Church and EP, along with the settlement. The church agrees to pay $1 million and EP agrees to a $4 million penalty. [9]
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 ...