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SEC attacks blockchain company Ripple
Cryptocurrency XRP plunges 25% after SEC files lawsuit against Ripple
By Ryan Browne
CNBC, New York
Wednesday, December 23, 2020
The price of cryptocurrency XRP plunged again today after the U.S. Securities and Exchange Commission filed a lawsuit alleging that Ripple, a blockchain company with ties to the cryptocurrency, conducted a $1.3 billion unregistered securities offering.
XRP sank nearly 25% to around 35 cents this morning, according to data from cryptocurrency market site CoinDesk. The virtual currency fell as much as 17% Tuesday after Ripple said it anticipated and would fight the legal action.
... Dispatch continues below ...
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The SEC is suing Ripple and two of its executives, CEO Brad Garlinghouse and co-founder Chris Larsen. At the heart of the federal agency's complaint is the claim that XRP should be treated as a security -- like a share in a company -- rather than a currency. ...
... For the remainder of the report:
https://www.cnbc.com/2020/12/23/cryptocurrency-xrp-plunges-25percent-aft...
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