By Lewis - Cryptocurrency Enthusiast - 27-09-2021
Reportedly, the case between the Securities and Exchange Commission (SEC) and Ripple (XRP) has been continuing its fiery journey in court. According to the SEC, Ripple is being charged with over $1 billion worth of unregistered securities. The court case against Ripple has gathered a lot of attention in the media, becoming a highly talked about topic amongst those who invest in cryptocurrency.
The CEO of Ripple, Brad Garlinghouse, had announced to its fans that the SEC had not given any clarity regarding crypto regulation. Garlinghouse further stated the SEC has forgotten what its goals were when it comes to safeguarding investors. Even though the SEC continues its court case with the crypto company, Ripple still provides services and is selling XRP. Many other authorities in other nations have to take their safeguards into consideration and further strengthen them to protect themselves from some digital assets.
Ripple is an open-source platform that allows developers and businesses to create payment solutions using the XRP Ledger. XRP is a cryptocurrency with a strong use case for cross-chain payments. XRP provides affordable, low-cost transactions while being a reliable, fast, and secure blockchain platform. The price to buy XRP has dropped in the last few days to $0.92, but this price is still up massively in comparison to when the lawsuit started. The SEC began the case in December 2020 when XRP's price was worth around $0.50.