Ripple has accused the Securities and Exchange Commission of distorting the facts about the status of its cryptocurrency XRP in its first formal response to a regulatory lawsuit filed in December, according to Finextra. In its action against Ripple Labs Inc. and two of its executives, the SEC alleged that they „raised over $1.3 billion through an unregistered, ongoing digital asset securities offering”.
Since the SEC filed its complaint, XRP has lost almost half of its market value, as investors cashed out their holdings in favour of less contentious assets.
In its formal response, Ripple contends that XRP is a cryptocurrency and therefore outside the SEC’s jurisdiction.
It points to recognition of XRP as a virtual currency by the UK’s FCA, and regulators in Singapore and Japan and argues that the SEC is asking the Court to contradict the findings of the agency’s peers in the US and worldwide.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
