Ripple Lawsuit News: 6 Things to Know About the XRP SEC Case

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Ripple Lawsuit News: 6 Things to Know About the XRP SEC Case

investorplace2021-04-08

Investors can’t seem to get enough of altcoins these days. WhileBitcoin(CCC:BTC) is still solidified at the top of the crypto mountain, smaller currenciesCardano(CCC:ADA) andStacks(CCC:STX) are on the...

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Minidarling
·2021-04-08
XRP are you going long ?
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Shock73
·2021-04-08
Rip
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AdrianJon
·2021-04-08
Love it
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- 88Huat88:
  You lOve It?
  2021-04-12
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WhileBitcoin(CCC:BTC) is still solidified at the top of the crypto mountain, smaller currenciesCardano(CCC:ADA) andStacks(CCC:STX) are on the...</p>\n\n<a href=\"https://investorplace.com/2021/04/ripple-lawsuit-news-6-things-to-know-about-the-xrp-sec-case-xrp-price-predictions/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://investorplace.com/2021/04/ripple-lawsuit-news-6-things-to-know-about-the-xrp-sec-case-xrp-price-predictions/","article_id":"1184361492","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1184361492","pubTimestamp":1617874998,"sourceInfo":{"source_id":"lsy1606302653667","name":"InvestorPlace"},"weMediaInfo":null,"summary":"Investors can’t seem to get enough of altcoins these days. 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So with this in mind, what should you know now?Main Takeaways From the Ripple LawsuitWithout further ado, here are the major things investors should know about the SEC’s Ripple lawsuit:This case has been dragging along since December 2020.The suit allegesthat Ripple and its executives have raised $1.3 billion through an unregistered security assets offering.The crux of the SEC’s argument is that because Ripple’s XRP token is not a currency but a security, the distribution of it is a violation of SEC regulations.However, Ripple benefitted froma bombshell moment back in Marchthat poked holes in the SEC’s argument. Judge Sarah Netburn had said in the courtroom that XRP seemed like a currency to her. Not just a currency, either, but a currency with a utility that distinguishes it from that of Bitcoin.That moment was a crushing blow to the SEC, but another happened just yesterday that is furthering Ripple’s solid case against the accusation. Ripple had been granted, also by Judge Sarah Netburn,access to some of the SEC’s internal communications.The company is going to comb through this data to find internal communications on how the SEC defines a cryptocurrency as a security. If it can find a message that fits the bill to label XRP as a currency rather than a security, it could be a knockout blow to the SEC’s case.In the meantime, XRP is still being traded. While delisted on most U.S. exchanges, investors can use Asian exchanges to purchase the XRP token. 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