Blockchain and the Law

Tag Archives: XRP

Three Critical Questions That Will (Hopefully) be Answered by the SEC’s Lawsuit against Ripple

By Timothy W. Mungovan, Joshua M. Newville and Samuel J. Waldon on Posted in Bitcoin, Cryptocurrencies, Digital Assets, Enforcement Action, Initial Coin Offerings, SEC, Securities
Late last year, the SEC filed a litigated action in the U.S. District Court for the Southern District of New York against Ripple Labs Inc. and two of its executive officers (collectively, “Ripple”), alleging that Ripple raised over $1.3 billion in unregistered offerings of the digital asset known as XRP. Ripple opted not to file a motion … Continue Reading

Ripple Faces Class Action Lawsuit Alleging Sale of Unregistered Securities

By Divya Taneja on Posted in Cryptocurrencies, Initial Coin Offerings, Litigation: Civil, SEC, Token Sales
A class action lawsuit was filed on May 3rd against Ripple Labs Inc.—a fintech startup that controls the third-largest cryptocurrency in the world—and its CEO Brad Garlinghouse, alleging that Ripple sold unregistered, non-exempt securities in violation of federal and California state securities laws. In their complaint, Plaintiffs characterized the sale of XRP (Ripple’s native token) … Continue Reading
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