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Ripple Labs

All articles tagged with #ripple labs

legal2 years ago

SEC Granted Permission to Appeal in Ripple Labs Dispute by Judge Torres

A federal judge, Analisa Torres, has granted the Securities and Exchange Commission (SEC) permission to file an interlocutory appeal in its ongoing legal dispute with Ripple Labs. The SEC will file its motion by August 18, with Ripple Labs given until September 1 to file opposition papers. The appeal focuses on the judge's decision regarding programmatic sales and "other distributions" of Ripple's XRP token. Meanwhile, a separate trial is scheduled for early next year, where Ripple Labs' co-defendants, Brad Garlinghouse and Chris Larsen, will face charges of aiding and abetting securities laws violations.

via Blockworks|
#appeal#legal#legal-battle
business2 years ago

"SEC Lawsuit vs Ripple Labs Proceeds to Trial, XRP Price Surges"

U.S. District Judge Analisa Torres ruled that the U.S. Securities and Exchange Commission (SEC) can proceed with its lawsuit against Ripple Labs Inc, stating that the company's sales of its XRP digital token violated federal law by constituting the unregistered offer and sale of investment contracts. The SEC had accused Ripple Labs and its executives of conducting a $1.3 billion unregistered securities offering. While Torres determined that the company's sales to institutional buyers amounted to unregistered sales of securities, she also stated that the case must go to trial for a jury to decide other aspects of the SEC's claims.

via Reuters|
#business#lawsuit#ripple-labs
cryptocurrency2 years ago

IMF Explores Ripple Link to CBDC Platform for Global Digital Currencies

The International Monetary Fund (IMF) is developing a platform for digital central bank currencies (CBDCs) to enable transactions between countries. Meanwhile, the XRP army has discovered an IMF report from March 2023 in which Ripple is considered a potential problem solver. The report presents a model for a global marketplace for more efficient cross-border exchange of tokenized money, with Ripple's XRP being one of the three conceivable models for a marketplace. Ripple Labs' collaboration with the IMF goes back a few years, and the XRP army has dug up several videos in which Ripple was allowed to speak at IMF conferences in the past years.

via Bitcoinist|
#cbdc#cross-border-payments#cryptocurrency
policy2 years ago

Hinman's SEC Emails and Speech Shed Light on ETH's Security Status

Former SEC director William Hinman planned to have a conversation with Ethereum co-founder Vitalik Buterin in 2018 to "confirm our understanding of how the Ethereum Foundation operates" and to support his stance that ETH was not a security. The recently surfaced document provides a glimpse into internal discussions at the SEC preceding the Hinman speech in which he suggested that bitcoin and ether were not securities. The SEC has filed a lawsuit against Ripple Labs for raising over $1.3 billion via an unregistered digital asset securities offering with its own XRP cryptocurrency.

via The Block - Crypto News|
#cryptocurrency#ethereum#policy
cryptocurrency2 years ago

Hinman Documents Drive XRP Price Surge and Ripple CEO's Impatience.

XRP prices rose 7.4% as traders bet on a favorable outcome for Ripple Labs in its ongoing lawsuit against the SEC. The gains came as documents related to former SEC director William Hinman were released, suggesting that bitcoin and ether were not securities. Ripple Labs claims that Hinman's remarks mean XRP should not be considered a security, potentially resulting in a favorable outcome for the firm. The SEC sued Ripple in 2020 for selling unregistered securities, impacting XRP prices.

via CoinDesk|
#cryptocurrency#ripple-labs#sec
cryptocurrency2 years ago

XRP Futures Trading Doubles as Investors Hope for Ripple's Victory Against SEC

XRP, the sixth-largest cryptocurrency by market cap, has surged nearly 21.6% in the past week, rising 55% since the start of January. The asset's price surge is due to investor confidence that its creators, Ripple Labs, will win a legal battle against the U.S. Securities and Exchange Commission (SEC). The SEC alleges that Ripple Labs and two of its co-founders misled investors by raising $1.3 billion in unregistered securities offerings since 2013. The XRP rally is "based on hope," according to experts, and if Ripple Labs wins, it would be historic for the crypto industry.

via Decrypt|
#crypto-industry#cryptocurrency#investor-confidence
cryptocurrency2 years ago

XRP's Resilience and Growth Continues Despite Legal Battles and Market Volatility

XRP has gained 39% in March as investors await court rulings in a case between the SEC and Ripple Labs, the company that issued the token. Traders are anticipating a positive outcome for Ripple. Meanwhile, FTX founder Sam Bankman-Fried pleaded not guilty to charges of attempted bribery and campaign-finance violations. Kraken said it will continue operating in Canada and comply with tougher rules set by the country’s financial regulator. Bitcoin's trading volume has diverged from the cryptocurrency's rising price over the past two weeks, weakening the case for an unabated move higher.

via CoinDesk|
#bitcoin#cryptocurrency#kraken