XRP (Ripple) Investors Just Received Fantastic News From the Securities and Exchange Commission
Many top cryptocurrencies are obtained through a process called mining, which involves using powerful computers to solve complex mathematical problems to help validate transactions on the blockchain. Miners play an important role in guaranteeing the security of the network, and they earn new coins for doing so.But the XRP (CRYPTO: XRP) cryptocurrency is different, because it's issued directly by Ripple, the company that created it. In other words, it's far from decentralized.This structure raised red flags at the U.S. Securities and Exchange Commission (SEC), and the agency ultimately decided to sue Ripple in 2020 alleging it was in breach of financial securities laws. The legal battle was ongoing until last week, when the SEC agreed to settle the case in line with President Donald Trump's promise to run a pro-crypto administration. Continue reading
Many top cryptocurrencies are obtained through a process called mining, which involves using powerful computers to solve complex mathematical problems to help validate transactions on the blockchain. Miners play an important role in guaranteeing the security of the network, and they earn new coins for doing so.
But the XRP (CRYPTO: XRP) cryptocurrency is different, because it's issued directly by Ripple, the company that created it. In other words, it's far from decentralized.
This structure raised red flags at the U.S. Securities and Exchange Commission (SEC), and the agency ultimately decided to sue Ripple in 2020 alleging it was in breach of financial securities laws. The legal battle was ongoing until last week, when the SEC agreed to settle the case in line with President Donald Trump's promise to run a pro-crypto administration.
