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Here is what the BBC news website stated: https://www.bbc.co.uk/news/technology-55415350
Crypto-currency firm Ripple has been charged with conducting investments without proper licences by the US Securities and Exchange Commission.
The SEC asserted that Ripple's XRP token is a tradable asset, known as a security, and thus subject to regulation.
The firm argues that XRP is a currency and therefore does not have to be registered as an investment contract.
The value of XRP fell by more than 30% on the news.
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More links:
https://www.cnbc.com/2020/12/23/cryptocurrency-xrp-plunges-25percent-after-sec-files-lawsuit-against-ripple.html
https://www.ibtimes.com/why-sec-suing-ripple-what-know-about-xrp-lawsuit-3108368
I literally came across this news today. What can you say? The crypto community has already watched several high-profile cases from the SEC in the direction of the creation of Facebook and Telegram coins, and as far as I know, all these cases have been suspended. Of course, the forces of the SEC aimed at Ripple can destroy the company and the cryptocurrency and this is probably the beginning of the end for XRP. However, I think that there is no need to rush to a conclusion, you still need to wait for the final result of the proceedings.