Banking and Cross border payment Crypto currency Ripple (XRP) sees massive dump after SEC launches lawsuit
SEC - Security Exchange Commission has filled a lawsuit against crypto currency giant ripple for selling unregistered security in USA
SEC has accused Ripple for selling unregistered security in form of crypto currency ripple without proper permission.
SEC launched the lawsuit with a $1.3 billion dollar in fine which caused massive panic sell in the market
Three Exchanges already delisted Ripple and Paused the trading of their crypto currency XRP
Those Exchange are Beaxy, Crosstower and OSL and delist comes after SEC filled a lawsuit against Ripple
According to that lawsuit Ripple and It's two founder's sold unregistered securities in USA without license in 2013.
If SEC wins the case and court give rulling against Ripple then exchange that listed ripple will also come under fire
As a result few or more exchange already started to delist the project from their platform in fear they might get into trouble.
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