Ripple Loses XRP Lawsuit, Signaling Regulatory Risk
A federal judge found that Ripple's cryptocurrency XRP is a security, not a currency.
Ripple had said that XRP was a currency and not subject to securities rules. This decision is a big blow to them.
The verdict indicated that securities regulations may apply to other cryptocurrencies.
XRP was offered as an unregistered security, according to the SEC's complaint against Ripple.
Following the judge's judgment, Ripple will have to respond to the SEC's charges in court.
As regulators struggle to classify and govern digital assets, the cryptocurrency industry is at risk.
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