Law360 (February 3, 2021, 5:13 PM EST) — Within the waning days of U.S. Securities and Change Fee Chairman Jay Clayton’s tenure, the company filed a go well with in opposition to executives of Ripple Labs Inc., arguing that the cryptocurrency related to the corporate, XRP, was an unregistered safety.
The SEC alleges that Ripple executives raised $1.38 billion in funding from gross sales of XRP over an eight-year interval. The SEC’s determination to attend eight years, and over a billion {dollars} later, earlier than submitting this grievance was irresponsible.
Extra importantly, why is XRP thought-about a safety by the SEC, however different cryptocurrencies like Ethereum and Bitcoin will not be? And can these strains be drawn…
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