Ripple vows to respond to SEC ‘attack’ amid exchange delistings of XRP
Ripple issued a statement on Tuesday urging market participants to hear its side of the story amid the ongoing SEC saga. With XRP plunging in value following a wave of exchange delistings and trading suspensions, Ripple Labs issued a statement Tuesday vowing to respond to the United States Securities and Exchange Commission’s allegations against the company. The statement opens with the following message:“The public and press have only heard the story from the SEC’s side, and we’ll be filing our response in a few weeks to address these unproven allegations against Ripple.”The statement....
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As delisting for privacy coins spreads, advocates argue that not only should regulators want them on exchanges but they should tell exchanges what they need to do to be compliant.
Shanghai-based exchange LakeBTC says it has taken a step towards bypassing the delays and costs associated with international transfers by becoming a Ripple gateway. Previously, users around the world wired fiat money to LakeBTC's account directly. However, they may now deposit funds with a Ripple gateway in their local area in any currency, and transfer it to a LakeBTC USD account via the Ripple network instead. The same applies to withdrawals. CEO Thomas Xie told CoinDesk the decision to add the Ripple network transfer option was the result of customer demand and a dissatisfaction with....
"Due to the uncertainty concerning their ongoing litigation with the SEC, the company has suspended trading on Ripple's platform," says MoneyGram's quarterly outlook. Global money transfer service MoneyGram says it has changed its relationship with blockchain payments firm Ripple amid the latter's litigation with the Securities and Exchange Commission.According to MoneyGram's quarterly outlook, the company is "not planning for any benefit from Ripple market development fees" for the first quarter of 2021. MoneyGram said it had a more than $12 million net expense benefit from Ripple in the....
Lawyers representing XRP investors may still have an opportunity to refile in the future, however. XRP tokenholders' attempt to insert themselves as third-party defendants in the U.S. Securities and Exchange Commission case against Ripple may have come to an end.According to court filings, federal judge Analisa Torres has denied a motion filed over the weekend on behalf of more than 6,000 XRP holders. The motion to intervene argues the interests of token holders — in this case, the XRP Army — were not being adequately represented in the lawsuit against Ripple and its executives. Torres....
The Ripple vs. SEC lawsuit has taken an interesting turn. A recent development suggests that this long-running legal battle might end soon. Surprisingly, the XRP price has failed to react positively to this development and has, instead, crashed significantly. XRP Price Fails To Respond Positively To Recent Ripple Vs. SEC Development CoinMarketCap data shows that […]