Since late 2020, Ripple Labs, which uses the XRP token in its products, has been locked in a legal battle with the United States Securities and Exchange Commission. There have been arguments for. On Dec. 22, 2020, the SEC filed a lawsuit against Ripple Labs and two of its executives on the grounds that they traded $1.3 billion in their XRP token as security without registering it with the commission. The big question is whether or not XRP is a security.

While most companies targeted by the SEC in a similar matter chose to settle, Ripple decided to fight. If Ripple prevails, the SEC could lose some of its credibility, giving other crypto-based companies the confidence to revolt. On the flip side, if the SEC wins the case, it could upend the way crypto firms operate and usher in a new wave of registration rules that apply to securities. The outcome of the lawsuit will undoubtedly have far-reaching implications in the crypto space.

Against the lawsuit. However, Ripple has strongly countered the claims, arguing that the SEC has been biased in its assessment. Howey Co in 1946, to determine whether a cryptocurrency is a security. Based on the commission’s definition of XRP in its lawsuit, the cryptocurrency would pass the Howey test, and according to SEC regulations, all securities must be registered. An asset is considered a security if it is sold with the expectation of getting profits from the efforts of other parties. The SEC uses the “Howey test,” based on the Supreme Court ruling on SEC v. W.J.

Crypto Trading View

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