Is XRP a Security? The SEC Lawsuit vs. Ripple Labs
In December 2020, the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs alleging that the company had violated securities laws by selling XRP as an unregistered security. The SEC argued that XRP is a security because it is an investment contract, meaning that it is an investment of money in a common enterprise with a reasonable expectation of profits derived from the entrepreneurial or managerial efforts of others.
Sherry Cantwell |