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Back in 2020, the U.S. Securities and Exchange Commission (SEC) sued Ripple, alleging that the company broke securities laws when it sold its XRP (CRYPTO: XRP) cryptocurrency to investors. Ripple ...
The SEC vs. Ripple story so far. ... And the XRP cryptocurrency's total market value stands at $61 billion today, not including cash pools held in foreign countries as a functional piece of the ...
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 open-source project was originally called "Ripple", the unique consensus ledger was called the Ripple Consensus Ledger, the transaction protocol was called the Ripple Transaction Protocol or RTXP and the digital asset (known as "ripples") using XRP as the three-letter currency code to follow the naming convention of BTC for Bitcoin.
The SEC has faced recent defeats in the case, including an unexpected ruling by Judge Analisa Torres in July that found that Ripple's sale of XRP on exchanges did not constitute an unregistered ...
The government agency brought charges against Ripple [31] for depriving the “potential purchasers [of XRP] of adequate disclosures about XRP and Ripple’s business and other important long-standing protections that are fundamental to our robust public market system,” according to the complaint that the SEC filed in federal district court ...
Since the creation of bitcoin in 2009, the number of new cryptocurrencies has expanded rapidly. [1]The UK's Financial Conduct Authority estimated there were over 20,000 different cryptocurrencies by the start of 2023, although many of these were no longer traded and would never grow to a significant size.
In 2020, the Securities and Exchange Commission (SEC) brought a lawsuit against Ripple Labs, alleging that the company had sold XRP tokens to investors in order to raise funds.