Some 6,000 investors in XRP argued they were not being sufficiently represented during the legal proceedings brought against the firm by the U.S. Securities and Exchange Commission.
The U.S. Securities and Exchange Commission wants a federal court to grant it access to the personal finance records of Ripple’s executives.
The lawsuit alleged that YouTube had “feigned ignorance” as XRP scams defrauded millions of dollars on the video sharing platform.
MoneyGram partnered with Ripple in 2019 to use the service as part of its transfer solutions, but has since suspended XRP as remittance currency in February due to Ripple’s legal woes.
In a move that echoes the approach of CEO Brad Garlinghouse, also implicated in the court action, Chris Larsen’s representatives set out four arguments for dismissal in a letter to the court.
Gary Gensler, the Biden administration's nominee to head the U.S. Securities and Exchange Commission, has highlighted "investor protections" as priorities for the digital asset industry.
The action centers on claims that MoneyGram did not confirm the status of XRP as a security, which constitutes a breach of the rules around issuing and selling securities.
This week, CoinGeek Pulse features Microsoft co-founder Bill Gates’ interview with Bloomberg’s Emily Chang, where he was quoted saying “he is not bullish” on BTC.
MoneyGram said it would no longer be using Ripple’s XRP remittance solution until the payments firm sorts out its legal issues with the U.S. securities regulator.
In this episode, Kurt opted to take questions from his live viewers where he answers each one candidly. He discussed a multitude of issues, engaging his viewers from start to the end of the livestream.
In a letter to the judge in the case, both Ripple and the U.S. Securities and Exchange Commission said they “do not believe there is a prospect for settlement at this time.”