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Ripple (XRP): 14 Things to Know About the Ripple Lawsuit as XRP Plunges

Ripple (CCC:XRP) is taking a beating on Wednesday following news that the U.S. Securities and Exchange Commission (SEC) is suing it.

a ripple coin

Source: Shutterstock

Here’s everything that investors need to know about the Ripple lawsuit.

  • The SEC is going after the company for allegedly offering securities instead of a cryptocurrency.
  • This has it targeting Ripple, as well as its CEO Brad Garlinghouse and co-founder Chris Larsen.
  • The SEC argues that XRP should be treated in the same way that shares of a public company are.
  • Ripple is arguing against this claim by stating that XRP has been identified as a currency in the past.
  • It says that this shows it isn’t subject to the same regulations that a security has to meet.
  • The company has been toying around with the idea of moving its headquarters overseas.
  • It would do so to avoid further regulation issues in the U.S.

XRP was down 31.9% as of Wednesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/12/ripple-xrp-14-things-to-know-about-the-ripple-lawsuit-as-xrp-plunges/.

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