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Crypto Company Ripple Faces SEC Lawsuit
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investopedia.comRipple, the company behind XRP (XRPUSD) – the world's third most valuable cryptocurrency – said that the Securities and Exchange Commission (SEC) plans to sue it in the coming days for selling unlicensed securities. Ripple CEO Brad Garlinghouse disclosed that the federal agency had informed the company of the lawsuit. Ripple also put out a statement late Monday claiming that the planned SEC legal action was «fundamentally wrong as a matter of law and fact» and confirming that it will fight the lawsuit. The SEC has declined comment on the suit.
Ripple's XRP has been an outlier in the cryptocurrency ecosystem for quite some time. Unlike other cryptocurrencies, it does not have a capped output and is pre-mined. Both characteristics have opened
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