While the countries are actively working on developing crypto regulations, XRP has faced its third class-action lawsuit for securities fraud.
The third securities fraud lawsuit has been filed against Ripple in California by the lead plaintiff David Oconer who is a private XRP investor.
Ripple Labs, Brad Garlinghouse, its chief executive officer, and XRP II LLC, a money service business unit of Ripple Labs are named as defendants.
Ripple Labs Inc. and the company’s CEO are accused of having conflated their token with its proprietary Ripple technology and of getting illegal benefits from price growth all the time.
According to the lawsuit, due to the way how XRP cryptocurrency is managed and distributed by Ripple Labs, it should be classified as a security.
The U. S. Securities and Exchange Commission (SEC) is once again taking action against a co-founder of the PlexCoin cryptocurrency project, having previously sued him over securities violations and fraud in 2017.
With crypto scams running rampant across the globe, Human Trust Protocol, aka Hub, is joining hands with Civic, a blockchain identification service provider, to verify users via know-your-client (KYC) data gathered from the Civic secure identity platform (SIP).
Ripple’s developer arm RippleX says the XRP Ledger’s “Permissioned Domains” amendment is nearing its activation threshold, positioning the network to roll out institution-friendly access controls that could underpin a permissioned version of XRPL’s native decentralized exchange.
Key takeaways XRP is trading above $2. 0 after adding 1% to its value in the last 24 hours. If the $2. 0 psychological level holds, XRP could rally towards the $2. 5 psychological region. XRP is approaching the $2.
XRP price is edging closer to losing a key trendline support that has historically served as a strong floor, from which previous rebounds have often begun. According to data from crypto.news, XRP (XRP) price was off to a strong start…
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Expect the XRP price to react to the upcoming markup of the CLARITY Act later this week. This bill seeks to simplify regulation of the crypto industry by separating the roles of the SEC and the CFTC.
XRP price fell 2% to $2. 04 as Bitcoin pulled back towards $90,000. The XRP token jumped to $2. 40 last week, helped by record ETF volumes. Bulls need to defend $2 or risk falling to $1. 80 or lower.
