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Whether or not Ripple violated securities law in making XRP available to retail investors by putting it on crypto exchanges is absolutely a question that needs appeals court intervention, the U.S. Securities and Exchange Commission (SEC) argued Friday. The SEC filed a response to a Ripple memo which argued the opposite as part of its […]
“For these thousands of putative class members, the notion that their XRP — that they purchased and may still own — is a ‘security’ comes as an unwanted surprise,” the defendants said. XRP trading would be more complicated if the coins were found to be securities, Ripple’s lawyers said — and sellers might even face […]
Ripple over the weekend filed a motion seeking dismissal of the suit before trial in federal court in Manhattan. The company argued that XRP can’t be considered a security because there was no “investment contract” granting investors rights or requiring the issuer to act in their interests. *** The regulator also asked for a ruling […]