Ripple’s lawyer in litigation with the US Securities and Exchange Commission (SEC) John Deaton reported, representatives of which countries are among the 75 thousand holders of the XRP token. Writes about this RBC Crypto.
The SEC filed a lawsuit against Ripple Labs in 2020, accusing the company of distributing approximately $1.3 billion in unregistered securities in the form of the platform’s native tokens. On July 13, 2023, Judge Torres ruled that the sale of XRP directly to institutional investors was a violation of the regulator’s rules, and there is no offer to retail investors on exchanges.
The XRP token began to grow after Ripple’s victory in court against the SEC, but in just over a month it completely lost it. In July, the price of the asset reached a yearly high of $0.83, but on August 23 it returned to the levels that were recorded before the judge’s decision not to recognize the token as a security.
Source: Cryptocurrency
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