SEC Guidance Gives Ammo to Lawsuit Claiming XRP Is Unregistered Security | Crypto Craft

  • SEC Guidance Gives Ammo to Lawsuit Claiming XRP Is Unregistered Security

    From coindesk.com

    Investors in the cryptocurrency XRP have filed a new complaint against Ripple that marshals the Securities and Exchange Commission’s own words to argue that the startup illegally sold unregistered securities. The amended complaint, filed Aug. 5 in a year-old lawsuit against Ripple, includes several new arguments and may be the first federal case to cite the SEC’s guidance for applying existing law and regulation to crypto tokens. It also marks the first filing to which Ripple must directly respond by addressing the facts of the case. Four previous complaints were filed in California state court, but the company ... (full story)

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TwoSense
Aug 13, 2019 2:32pm
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This isn't good for Ripple or XRP. This suit was filed by XRP investors. whoa
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Investors in the cryptocurrency XRP have filed a new complaint against Ripple that marshals the Securities and Exchange Commission’s own words to argue that the startup illegally sold unregistered securities.

The response from Ripple is going to be interesting.
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Ripple has until mid-September to file its response.
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