Ripple (XRP), the third-largest cryptocurrency by market cap, has plunged (drop) around 31% after the news came out of filing a lawsuit by U.S Securities & Exchange Commission (SEC), not even this, some exchanges already stared delisting the same 馃槰. According to the reports, - The U.S. SEC files a lawsuit against Ripple for directing a $1.3 billion unregistered securities sale in Manhattan. - The complaint advocates that Ripple, Co-founder & Its current CEO, raised capital to support its business starting in 2013 via the sale of unregistered securities recognized as XRP to investors in the U.S. and globally. - SEC claims that Ripple鈥檚 periodical sale of the 48.2 billion XRP operates in an escrow account that authorizes the sale of an unregistered security. - In the end, SEC labels XRP as a security. #cryptocurrency #blockchain #ripple #investing
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The SEC has announced that it has filed an action against Ripple Labs Inc. & two of its executives, who are also significant security holders, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.

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