* Our Parent Company Crypto Token is GOING LIVE!!! *Flag Token

Blockchain Assoc. Seeks to Intervene in SEC vs Ripple


Share post:

Crypto lobbying group Blockchain Association has asked permission to support cross-border payments company Ripple as a friend of the court in its case against the U.S. Securities and Exchange Commission (SEC).

According to published reports Sunday (Oct. 30), the Washington, D.C., organization is also asking a federal court for leave to become part of the case.

“The SEC’s extremely broad interpretation of the securities laws would have devastating effects on the industry (and even outside the industry),” the Blockchain Association said in its motion.

The SEC sued Ripple and two of its top executives in December 2020 for allegedly selling unregistered securities in the form of the XRP tokens created by its founders, demanding $1.3 billion in restitution.

The SEC has alleged that CEO Brad Garlinghouse and Executive Chairman Chris Larsen “were objectively reckless in believing that XRP was not a security and that Ripple was on ‘fair notice’ that XRP was a security,” U.S. Magistrate Judge Sarah Netburn wrote in ordering the agency to turn over the documents.


Read more…

Related articles

What is Klayton Blockchain & Why Toon Finance is Better Choice – CryptoMode

The Klaytn network has taken a big hit today, as the price of KLAY tokens has tumbled following...

Peter Schiff Says Bitcoin Still Has a Long Way to Fall — Values BTC at $10K – Markets and Prices Bitcoin News

Economist and gold bug Peter Schiff says bitcoin still has a long way to fall after the collapse...

ATP Finals 2022 full schedule, results, TV channel and live stream as Novak Djokovic reaches final, Rafael Nadal bows out in Turin

Novak Djokovic will meet Casper Ruud in the final of the 2022 ATP Finals after being taken to...

Top 3 Hottest NFT Mints for November 2022 Blackfriday Cryptocurrency

What are NFTs and How Do They Work? You may have heard about a new craze sweeping the internet...