The third largest volume of the crypto money market Ripple Labs Inc. was severely depreciated due to reports that it would be sued by the US Securities and Exchange Commission (SEC) for violations through the sale of XRP.
Securities and Exchange Commission (SEC)Has officially announced that it has filed a lawsuit against Ripple Labs and its two executives.
In its announcement, the SEC stated that “Ripple and its two executives have been sued for selling $ 1.3 billion of unregistered securities.”
SEC charges Ripple and two executives with conducting $1.3 billion unregistered securities offering https://t.co/3VP23RpSyV
— SEC_News (@SEC_News) December 22, 2020
INCREASED 140 PERCENT IN 4 DAYS
With this development, XRP, which declined to $ 0.23 in the last days of 2020, remained at $ 0.20 -0.30 for a long time.
With Ripple, GameStop and AMC Companies increasing their shares, it has become the focus of investors in the crypto money market.
XRP rose 140 percent from $ 0.23 to $ 0.77 over the past weekend and held resistance at $ 0.40 with a sudden decline.
According to cryptocurrency analysts, fluctuations in Ripple are speculation.
LIMITATION TO XRP TRANSACTIONS
On the other hand, Bitstamp, the crypto currency platform, recently announced that it will stop XRP transactions and deposits for investors in the US on January 8, 2021.
In addition to Bitstamp, Bitwise in the US and OSL in Hong Kong are also halting XRP transactions.
WHEN IS THE RIPPLE CASE?
The Southern District Court of New York has announced the first court date for the U.S. Securities and Exchange Commission’s case against Ripple. The parties to the case will appear before the judge on 22 February.
BARRIERS TO THE USE OF CRYPTO MONEYS IN TRADE
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