Ripple Will Continue to Operate In U.S. Despite Lawsuit

2020-12-31 00:20

Ripple has stated that its current legal controversy will not affect its ability to operate in the United States.

Ripple Will Operate In U.S.

On Dec. 29, Ripple published a statement responding to the Security and Exchange Commission’s regulatory allegations and the various exchange trading suspensions that resulted. The company has been charged with operating an unregistered securities offering.

Despite the charges, “Ripple will continue to operate and support all products and customers in the U.S. and globally,” Ripple said. The company clarified that its operations will not be affected by U.S.-based companies and exchanges that suspend XRP trading.

Furthermore, it says that most XRP trading volume takes place outside America. “The majority of our customers aren’t in the U.S., and overall XRP volume is largely traded outside of the U.S.” the company explained. “There are clear rules of the road for using XRP in the U.K., Japan, Switzerland, and Singapore, for example.”

Ripple did not address whether the absence of exchange on-ramps will impact On-Demand Liquidity, its cross-border payments product.

More Clarity to Come

Ripple has criticized the SEC’s decision to file a lawsuit as having caused harm to retail XRP holders. It also says the lawsuit has caused confusion among market participants.

“We’ve always said that there is a dangerous lack of regulatory clarity for crypto in the U.S. — [the SEC’s] lawsuit has already affected countless innocent XRP retail holders with no connection to Ripple. It has also needlessly muddied the waters for exchanges, market makers and traders,” Ripple says.

The payments company has stated it will defend itself in the court against “unproven allegations.” Starting Feb. 22, 2021, legal proceedings at New York Southern District Court will determine if Ripple’s sales and distributions of XRP constituted violations of security laws.

Meanwhile, crypto companies like Coinbase, Bitstamp, OKCoin, Bittrex, BitWise, Crypto.com, and Genesis Trading have chosen to halt XRP trading, causing massive declines in the price of the asset.

Hopefully, the final verdict in the case will provide the crypto industry and XRP investors with much-needed clarity.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 2.183 (-0.88%)
Объем 24H $11.336b
Изменеия 24h: -2.92 %, 7d: -10.65 %
Cегодня L: $2.1758 - H: $2.2191
Капитализация $124.984b Rank 4
Цена в час новости $ 0.2144 (918.19%)

despite lawsuit operate continue ripple

Источник: cryptobriefing.com

despite lawsuit → Результатов: 22


Volkswagen Faces SEC Lawsuit Over “Dieselgate” Scandal

German automaker Volkswagen is facing a lawsuit filed over its actions toward investors during the so-called “Dieselgate” scandal. Filed by the Securities and Exchange Commission (SEC), the lawsuit alleges that the automaker allowed investors to buy $13 billion worth of company bonds despite being aware of a growing scandal involving illegal software used to manipulate emissions’ testing results.

2019-3-21 02:41


Illinois Judge Blocks Mt Gox CEO’s Bid to Weasle out of Bitcoin Trader Lawsuit

For Mark Karpeles, the former CEO of the shuttered Mt. Gox bitcoin exchange, the hits just keep on coming, this time from more than 6,000 miles away. An Illinois court in a Memorandum Opinion and Order issued on March 12 has denied Karpeles the chance to make a class action complaint in which he is named as a defendant go away, despite the fact that the infamous cryptocurrency exchange was based in Tokyo.

2019-3-14 19:06


Another sore investor sues Ripple, tension builds for regulation

A class-action lawsuit has been filed against Ripple Labs Inc., Brad Garlinghouse and XRP II LLC. The lawsuit alleges that Ripple is a security under California law. The lawsuit, filed by plaintiff Vladi Zakinov, states that the XRP token, despite being called a ‘token’ is actually a security as it indiscriminately offers XRP for sale […]

2018-6-11 15:23

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Rumble secures $775 million investment from Tether

Rumble partners with Tether in a $775M deal, sparking speculation on future crypto payment integrations. The post Rumble secures $775 million investment from Tether appeared first on Crypto Briefing.

Riot Platforms completes $525M offering to buy Bitcoin

Riot completes a $525M offering to bolster Bitcoin acquisitions and operations, holding 12,000 Bitcoin, valued at $1.2B. The post Riot Platforms completes $525M offering to buy Bitcoin appeared first on Crypto Briefing.