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

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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.

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