The US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple. The agency accuses the blockchain company of illegally collecting $ 1.3 billion to fund its business through an XRP offer that continues as a complaint.
According to the SEC’s complaint, Ripple; The company’s co-founder, chairman and former CEO Christian Larsen; and Bradley Garlinghouse, the company’s current CEO, raised capital to finance the company’s business.
The complaint states that, starting in 2013, Ripple raised funds through the sale of digital assets known as XRP in unregistered securities to investors in the US and around the world.
Following the announcement, XRP hit an intraday low of 0.44 on the Bitstamp exchange. We will see how this case will affect XRP in the future, but we can say that it will not affect very positively.