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.
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.”
Ripple has filed its response to the SECs complaints regarding the Ripple (XRP) sale being an unregistered securities offering.
The lawsuit has been filed by a Tyler Toomey, who purchased 135 XRP in November 2020, before selling at a 50% loss in December.
The court approved the bid from investor Tetragon to prevent Ripple from buying any more XRP, or redeeming other investor stock, until Tetragon’s stake had been redeemed.
The decision follows a filing by the U.S. securities regulator against parent company Ripple Labs Inc. for failing to register with the SEC.
Ripple co-founder Jed McCaleb took a 25-day hiatus from his weekly XRP sales–many believe he made this decision due to Ripples lawsuit with the SEC.
Ripple's CEO Brad Garlinghouse has answered what he calls " five (5) key questions" about the Ripple vs. the SEC lawsuit.
Expect a rocky road ahead in 2021 for tokens as regulators are just getting started to enforce the law.