BitXLanka.Com- Sri Lanka Bitcoin & Crypto Currency Tracker logo BitXLanka.Com- Sri Lanka Bitcoin & Crypto Currency Tracker logo
Seeking Alpha 2020-12-22 09:10:12

Cryptos dive as Ripple expects to be sued by the SEC

Regulators appear to be getting serious about crypto as the space turns into one of the investing themes of 2020.A day after the Treasury proposed new rules on crypto movement, the SEC is expected to bring a lawsuit against Ripple Inc. by alleging it violated investor protection laws by selling unregistered securities when it sold (XRP-USD) to investors.Ripple led crytocurrency losses ovenight on the news, down over 17% to $0.4630. Others: Bitcoin (BTC-USD) -5.2%; Ethereum (ETH-USD) -7.2%; Bitcoin Cash (BCH-USD) -14.2%; Litecoin (LTC-USD) -11.4%."XRP is a currency, and does not have to be registered as an investment contract," Ripple CEO Brad Garlinghouse said in a statement. "In fact, the Justice Department and the Treasury's FinCEN already determined that XRP is a virtual currency in 2015 and other G20 regulators have done the same. No other country has classified XRP as a security.""Chairman Jay Clayton - in his final act -

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.