Ripple, the company responsible for the XRP cryptocurrency, has been sued by the U.S. Securities and Exchange Commission. Now, many in the crypto community are questioning whether XRP can thrive after the lawsuit concludes.
Details of the Lawsuit
On Dec. 22, 2020, the SEC published a statement explaining that it has filed a lawsuit against Ripple Labs, Inc. Allegedly, sales of the XRP token conducted by Ripple since 2013 constitute an unregistered securities offering.
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