The U.S. Securities Commission states that the Ripple currency has been circulated unregistered and its owners are likewise making money from the sale.

Ripple’s cryptocurrency, which has started to exit in a short time with the effect of the Spark gift token distribution in the past weeks and pushed the limits of 75 cents, took a heavy hit this week. The US Securities Commission is suing the initiative.

Ripple crashes
XRP, or Ripple currency, first started pre-sale in 2013 and then launched. Although XRP, which had a total supply of 40 billion, reached the limit of 4 dollars for a while, it fell to 25 cents as the market turned upside down.

XRP, or Ripple currency, first started pre-sale in 2013 and then launched. Although XRP, which had a total supply of 40 billion, reached the limit of 4 dollars for a while, it fell to 25 cents as the market turned upside down.

We can say that the hard days have started for XRP, which reached the limit of 75 cents during the month. The U.S. Securities Commission filed a criminal complaint in 2013 for $ 1.3 billion in unrecorded digital securities offerings.

In the criminal complaint, it was stated that the founders Brad Garlinghouse and Christian Larsen did not report the sale of personal XRP savings of around $ 600 million. It is also emphasized that the XRP unit is also the subject of business and market creation activities.

Garlinghouse is very responsive. The famous name, stating that the law is acted from the beginning to the end and that it is constantly updated, thinks that there will be no result from the case.

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If the court concludes against it, the Ripple firm and its founders will be fined. They will also have to give back their earnings. Ripple, on the other hand, will go into an unrecorded currency and risk being removed from the stock markets. As of now, Ripple fell to 30 cents and then recovered somewhat.

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