A contentious lawsuit between the Securities and Exchange Commission looks poised to go to trial after a federal judge declined to conclusively resolve the issue.
A federal district judge declined to issue a summary judgement requested by both the Securities and Exchange Commission and Ripple in the enforcement over whether XRP is an unregistered security, sending the issue to trial.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.A contentious lawsuit between the Securities and Exchange Commission will go to trial after a federal judge declined to conclusively resolve the matter.
At the heart of that dispute is whether the company’s native XRP token is an unregistered security, and the sale of it, which has banked the company billions, is unlawful. The agency accused Ripple in 2020 of raising $1.3 billion through the sale of XRP and also sued CEO Brad Garlinghouse and co-founder Christian Larsen. XRP is the sixth-largest cryptocurrency by market capitalization, with a total market value of over $27 billion.
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