The SEC Lawsuit Against Ripple & What It All Means for the World of Crypto

The Back Story

In December 2020, the Securities and Exchange Commission (SEC) released what many might see as a bombshell of a lawsuit against Ripple Labs. This lawsuit has caused panic amongst many in the cryptocurrency community, and these sudden sweeping legal implications left many with questions.

The Significance

So now you have the backstory, and you might be thinking, “so what?!? Why do I care?” Good question: I thought you’d never ask!

XRP Values Down

From the start, XRP’s value has declined, and with over 50 crypto exchanges delisting or suspending the currency, things don’t look good. Since December 2020, XRP has lost about 75% of its value since the lawsuit's announcement; it’s driven many XRP holders to dump the tokens and panic sell — leaving many outraged.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
michaelpaulyn

michaelpaulyn

Just a copywriter out to simplify the world of tech, one blog at a time.