Larsen stated the firm was considering moving to countries like the U.K., Switzerland, Singapore, or Japan, because in the U.S., “all things blockchain and digital currency start and end” with regulatory bodies like the Securities and Exchange Commission (SEC).
I am not sure about it happening. But as I read, it looks like it’s happening.
Fintech company Ripple faces yet another challenge after the US Securities and Exchange Commission (SEC) filed a lawsuit against it – this time from one of their partners – Tetragon Financial Group. The company has requested that their preferred stocks in Ripple be refunded, and has also filed complaint against Ripple in a court in the state of Delaware. Following that development, the price of Ripple’s token, the XRP has suffered another hit, dropping by 5%. Although the price of the asset has somewhat recovered at time of writing, the XRP market cap was overtaken by Litecoin’s own, whose LTC token briefly became the third biggest cryptocurrency on the market.
I say buy XRP in case it gets reinstated!
I really doubt it will get reinstated anytime soon. SEC wouldn’t sue them if they weren’t sue they could win, I think.
Guess we will have to wait and see what happens now.
I am not sure about regulations driving ripple out of the market. In fact, I am in favor of cryptocurrencies getting regulated. It will make more people trust cryptocurrencies and we will also be relaxed that our money is in the safe hands. I truly believe that regulations will strengthen currencies.
What about the massive lawsuit by SEC?
Lawsuit or not Ripple seems to be doing pretty well. It’s well over 1 USD.