Reported 4 days ago
The U.S. Securities and Exchange Commission (SEC) has appealed a court ruling that required Ripple Labs Inc. to pay only $125 million for improperly selling its XRP token, far less than the $2 billion it initially sought. This legal battle stems from a 2020 lawsuit where the SEC accused Ripple of selling an unregistered security. A recent ruling concluded that XRP was considered a security only when sold to institutional investors, marking a significant moment for the cryptocurrency industry. Ripple's CEO criticized the SEC's approach, claiming it has harmed the agency's credibility.
Source: YAHOO