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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.
XRP has struggled after the Securities and Exchange Commission appealed a U.S. District Court ruling in favor of XRP in a prior lawsuit.
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 ]
SEC drops charges against Ripple executives Brad Garlinghouse and Chris Larsen in ongoing XRP litigation. Leo Schwartz. October 19, 2023 at 5:21 PM. Joseph Nair—Bloomberg via Getty Images.
Ripple's argument that an XRP holder waited too long to file suit has no precedent, a new legal filing claims. Investor Lawsuit Argues Ripple Still Has to Answer Over Ongoing XRP Sales Skip to ...
The SEC vs. Ripple Labs lawsuit took a somewhat unexpected turn, breathing new life in the case just before an important deadline.
SEC v Ripple news updates appear to favor Ripple’s defense. Despite this, XRP continues its pullback from $0.91 levels struck in late March.
XRP slid to erase most of its gains from the past week as optimism faded for any early resolution to its lawsuit with the US Security and Exchange Commission. Markets: XRP biggest loser in top 10 ...