Here's a breakdown of what this means for XRP and the wider crypto community. What is XRP? XRP is a digital currency created by Ripple Labs in 2012. It is used in Ripple's payment network, which aims to provide faster and cheaper transactions for financial institutions. XRP is the third-largest cryptocurrency by market capitalization, behind Bitcoin and Ethereum. The SEC Lawsuit In December 2020, the SEC filed a lawsuit against Ripple Labs, its co-founder Chris Larsen, and current CEO Brad Garlinghouse, alleging that XRP is a security and that Ripple has been selling it as such without proper registration. This sent shockwaves through the crypto community, as XRP's value plummeted and exchanges began delisting the coin. Why is XRP Not a Security? Ripple Labs and its supporters argue that XRP is not a security, but rather a currency. They claim that it is used for payments and not as an investment tool, therefore should not be subject to securities regulations. Fur...
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