© Reuters
WASHINGTON – Ripple, the blockchain payments company, is currently engaged in a legal battle with the U.S. Securities and Exchange Commission (SEC) over allegations of conducting an unregistered securities offering worth of 1.3 billion dollars. The SEC filed the lawsuit on the grounds that Ripple, along with its executives Christian Larsen and Bradley Garlinghouse, raised funds through the sale of XRP in what the commission considers an unlicensed securities offering. recorded.
Stuart Alderoty, a legal representative for Ripple, recently revealed details regarding an initial SEC settlement proposal. The disclosure of this proposal indicates that discussions are ongoing between Ripple and the regulator, although details of the settlement have not been made public.
The lawsuit began on December 22, 2020, when the SEC alleged that Ripple engaged in this substantial financial activity without proper registration, which is required by federal securities laws for offers and sales of titles.
This case has significant implications for Ripple and the broader cryptocurrency industry, as it could set a precedent for how digital assets are classified and regulated in the United States. The outcome could not only influence Ripple’s operations, but also how other cryptocurrencies are viewed by regulators.
This article was generated and translated with the help of AI and reviewed by an editor. For more information, see our T&Cs.