SEC files lawsuit alleging Ripple's XRP cryptocurrency is an unregistered security
SHARE The U.S. Securities and Exchange Commission today filed a lawsuit against Ripple Labs Inc. and two of its executives claiming that the company, which offers the XRP cryptocurrency, illegally sold unregistered securities. The complaint alleges that Ripple, along with Christian Larson, the company’s co-founder and executive chairman of its board and former chief executive officer, and Bradley Garlinghouse, the company’s current CEO, raised capital to finance the company’s business beginning in 2013 through the sale of unregistered securities called XRP to investors in the U.S. and w...
Source: siliconangle.com