XRP investors file new lawsuit against Ripple – Cryptonaute
A group of investors is currently Ripple for issuing his cryptocurrency XRP as unregistered titles in accordance with the regulatory framework of Security of Exchange (SEC) the United States.
A new, amended complaint is based on the rules of the DRY to prove that cryptocurrency XRP is a security (security), reports Coindesk.
Unlike previous complaints against Ripple and its digital piece, the American company will have to answer it by the September 19th next. Indeed, Ripple is already facing several similar lawsuits but has managed to consolidate them and transfer them to a federal court.
The complaint this time refers to the framework for analyzing "investment contracts" for digital assets of the DRY which defines, notably through the Howey test, whether a cryptocurrency can be considered as a security.
"This deposit will be the first time in the long history of this dispute that Ripple respond concretely to the accusations around XRPSaid Jake Chervinsky, a lawyer at Compound Finance.
The complaint also alleges that Ripple's representatives, such as its CEO Brad Garlinghousestated (in interviews or on Twitter) that the price of XRP was linked to the growing success of society.
"The complaint focuses on his own statements of Ripple to prove that investors XRP had reasonable expectations of the benefits of Ripple's management efforts. "added Chervinsky.
As noted above, Ripple now has approximately 1 month to respond to claimants' claims.
> Ripple plans new investments and acquisitions
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