Archives

April 7, 2021 @ 4:17 pm By JD Alois  |  

Back in December of 2020, the Securities and Exchange Commission (SEC) posted a complaint alleging that Ripple engaged in the sale of an unregistered security. The enforcement action included Christian Larsen, the company’s co-founder, executive chairman of its board, and former CEO, and Bradley Garlinghouse,… Read More

March 29, 2021 @ 11:45 pm By JD Alois  |  

Ripple has agreed to acquire a 40% stake in cross-border payments Fintech Tranglo, according to a public release. Tranglo, based in Malaysia but operates across Asia, reports 1300 partners having completed 20 million transactions at $4 billion in value. Tranglo claims to be one of… Read More

February 5, 2021 @ 7:20 pm By Omar Faridi  |  

Fintech firm Ripple notes that in May 2020, McKinsey had identified that consumer and enterprise digital adoption had “matured five years, in a matter of eight weeks.” For financial institutions, digital technologies — such as Cloud-enabled models — provide the flexibility and scalability needed to… Read More

January 27, 2021 @ 6:51 pm By Omar Faridi  |  

The LuLu Exchange in the United Arab Emirates (UAE) has confirmed that they’re teaming up with American Fintech Ripple (which is the subject of a major enforcement action from the US SEC) and Federal Bank in order to enhance real-time payments capabilities from the UAE… Read More

January 18, 2021 @ 3:33 pm By Omar Faridi  |  

John E. Deaton, a lawyer focused on the blockchain and cryptocurrency sector (and other societal/legal issues), notes that the US Securities and Exchange Commission (SEC) was warned that investors could potentially lose billions, considering “the magnitude of an SEC enforcement action” against Ripple’s XRP, which… Read More

January 6, 2021 @ 8:34 am By JD Alois  |  

Tetragon Financial Group Ltd. (LSE: TFG), a UK based investment firm with $2.35 billion in assets under management, has sued Ripple in Delaware courts, according to a report by Bloomberg. Tetragon apparently had an agreement incorporated in its equity investment with Ripple that if XRP… Read More

January 5, 2021 @ 9:22 pm By JD Alois  |  

XRP, the native currency created by Ripple, continues to tiptoe lower following the announcement of an enforcement action by the Securities and Exchange Commission.  In fact, on the day the SEC announced the lawsuit, XRP held a market cap of over $20 billion. Today, that… Read More

January 5, 2021 @ 8:04 am By Omar Faridi  |  

Blockchain.com, a leading cryptocurrency wallet provider, trading platform, and block explorer service, revealed on January 5 that it will be halting XRP trading, beginning on (Thursday) January 15, 2021. Blockchain.com’s management confirmed that because of the US Securities and Exchange Commission’s (SEC) recent action against… Read More

December 30, 2020 @ 9:53 am By JD Alois  |  

Ripple, the creator of XRP – one of the largest cryptocurrencies in the world by market cap, has posted a brief comment on “recent market participant activity” following XRPs dive in value. XRP began to sink following the revelation of an enforcement action by the… Read More

December 29, 2020 @ 9:05 am By JD Alois  |  

XRP continues to sink in value following the rolling news that more crypto exchanges are deciding to halt trading the digital asset.  On December 22nd, the Securities and Exchange Commission (SEC) revealed an enforcement action targeting Ripple that alleges the sale of $1.38 billion in… Read More

December 29, 2020 @ 8:04 am By Omar Faridi  |  

San Francisco based crypto exchange Coinbase announced on December 29, 2020, that it will be suspending XRP trading beginning on January 19, 2021. The leading digital asset exchange confirmed that “in light of the US Securities and Exchange Commission’s (SEC) recent action against Ripple Labs,… Read More

December 24, 2020 @ 8:32 am By Omar Faridi  |  

MoneyGram International, Inc. (NASDAQ: MGI), a major cross-border P2P payments and money transfers service, has issued a statement after a lawsuit was filed by the US Securities and Exchange Commission (SEC) against Ripple Labs Inc. MoneyGram stated that it had not “been notified or been… Read More

December 23, 2020 @ 2:20 pm By JD Alois  |  

The Securities and Exchange Commission’s (SEC) lawsuit against Ripple is the largest enforcement action attacking the sale of a cryptocurrency to date. The SEC alleges the sale of an unregistered security in the issuance of XRP, Ripple’s native token. Ripple has been quick to defend… Read More

December 23, 2020 @ 10:40 am By JD Alois  |  

Following the announcement of an enforcement action by the Securities and Exchange Commission (SEC) alleging Ripple engaged in the sale of unregistered securities pertaining to XRP, Ripple has countered and executives have publicly countered the claims. Meanwhile, the lawsuit has caused several digital asset exchanges… Read More

December 23, 2020 @ 9:49 am By JD Alois  |  

Just last week, OSL became the first licensed digital asset trading platform in Hong Kong. It received approval by the Securities and Futures Commission (SFC) to conduct  Type 1 (dealing in securities) and Type 7 (automated trading service -ATS) regulated activities and claims to be… Read More

December 22, 2020 @ 3:56 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has publicly posted the complaint charging Ripple with the sale of an unregistered security. Including in the enforcement action are Christian Larsen, the company’s co-founder, executive chairman of its board, and former CEO; and Bradley Garlinghouse, the company’s current… Read More

December 22, 2020 @ 8:38 am By JD Alois  |  

Ripple has posted a response to a Wells Notice received by the blockchain firm. A Wells Notice is a document sent to an entity or individual giving notice of a pending enforcement action following an investigation by the securities regulator. Yesterday, it was reported that… Read More

December 21, 2020 @ 9:12 pm By JD Alois  |  

Ripple, the creator of XRP the third-largest crypto by market cap of over $22 billion, is the target of a Securities and Exchange Commission (SEC) enforcement action. Rumors have been circulating for some time now that Ripple had received a Wells Notice – an indication… Read More

November 9, 2020 @ 12:52 pm By Omar Faridi  |  

American Fintech firm Ripple has reportedly chosen the Dubai International Financial Centre as its new regional headquarters. Financial institutions based in over 45 different countries are currently using RippleNet, which is a “decentralized” network for conducting cross-border transactions between different financial services providers. Ripple focuses… Read More

October 23, 2020 @ 7:58 am By Omar Faridi  |  

San Francisco-based Fintech firm Ripple might consider moving its business operations to another country if US financial regulations remain unclear. Ripple has narrowed down its choices to five high-potential markets where it may establish its new headquarters. They include the UK, Switzerland, the United Arab… Read More