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U.S. securities regulators on Tuesday sued cryptocurrency giant Ripple, and both its CEO and executive chairman, for allegedly selling over $1.3 billion in unregistered securities. Ripple on Monday had publicly disclosed that the lawsuit was to be filed imminently, and said it does not believe its tokens needed to be registered. 

Why it matters: XRP, the cryptocurrency created by Ripple in 2012, has the crypto industry's third-largest market cap at around $22 billion, behind only Bitcoin and Ether. 

SEC v. Ripple - Complaint

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SEC formally sues cryptocurrency company Ripple

XRP, the cryptocurrency created by Ripple in 2012, has the crypto industry's third-largest market cap.

Illustration of the shadow of a gavel hovering over the Ripple logo

Business

Cryptocurrencies

Technology

U.S. securities regulators on Tuesday sued cryptocurrency giant Ripple, and both its CEO and executive chairman, for allegedly selling over $1.3 billion in unregistered securities. Ripple on Monday had publicly disclosed that the lawsuit was to be filed imminently, and said it does not believe its tokens needed to be registered. Why it matters: XRP, the cryptocurrency created by Ripple in 2012, has the crypto industry&#x27;s third-largest market cap at around $22 billion, behind only Bitcoin and Ether.

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Economy & Business

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