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An SEC spokesperson declined to comment. Torres’s most recent decision in the SEC’s litigation against Ripple is the latest in a landmark case that could influence the future of crypto in the U.S.
The agency is pushing back on a judge's ruling that programmatic sales of XRP did not represent a securities sale. SEC will seek to appeal the landmark Ripple decision on whether XRP is a security ...
The decision is the latest chapter in the prolonged legal battle between the SEC and Ripple, a major crypto firm, over the issuance of its cryptocurrency XRP. The SEC has faced recent defeats in ...
Ripple is a real-time gross settlement system, currency exchange and remittance network that is open to financial institutions worldwide and was created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple is built upon a distributed open source protocol, and supports tokens representing fiat currency, cryptocurrency ...
Ripple Payment and Exchange Network. Number of employees. 1,120 (2023) [2] Website. ripple .com. Ripple Labs, Inc. is an American technology company which develops the Ripple payment protocol and exchange network. Originally named Opencoin and renamed in 2015, the company was founded in 2012 and is based in San Francisco, California.
In December 2021, the SEC filed a case against Ripple Labs, accusing the company of selling XRP as unauthorized security — which they were not allowed to do by law. The regulatory body in the U ...
Cryptocurrencies are generally viewed as a distinct asset class in practice. [6] [7] [8] Some crypto schemes use validators to maintain the cryptocurrency. In a proof-of-stake model, owners put up their tokens as collateral. In return, they get authority over the token in proportion to the amount they stake.
She also ruled partly in the SEC's favor, saying the agency had shown the company's $728.9 million of XRP sales to hedge funds and other sophisticated buyers had violated the law.
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