Notes

Ripple Plans to Go Public After SEC Lawsuit Over XRP Is

<h1 style="clear:both" id="content-section-0">The Buzz on Court grants Ripple access to SEC's internal trading policies<br></h1>
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<p class="p__0">Washington D.C., Dec. 22, 2020 The Securities and Exchange Commission announced today that it has filed an action versus Ripple Labs Inc. and two of its executives, who are likewise substantial security holders, declaring that they raised over $1. 3 billion through an unregistered, ongoing digital asset securities offering. According to the SEC's complaint, Ripple; Christian Larsen, the business's co-founder, executive chairman of its board, and former CEO; and Bradley Garlinghouse, the company's present CEO, raised capital to finance the company's business.</p>
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<img width="425" src="https://i2.wp.com/www.kriptoarena.com/wp-content/uploads/2021/04/rip-case.jpg?fit=1148%2C670&amp;ssl=1">
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iGAD6AzGE9G4/v2/977x-1.png" alt="Odds are the SEC will opt to settle Ripple lawsuit before reaching trial"><span style="display:none" itemprop="caption">The U.SSEC is accusing Ripple (XRP) of 'harrassment' - CryptoSlate</span>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://static.news.bitcoin.com/wp-content/uploads/2021/04/q1RB1a9J-sec-ripple-discovery.jpg" alt="SEC Lawsuit Against Ripple Is 'Against Crypto At Large,' Says CEO - Bloomberg"><span style="display:none" itemprop="caption">Winning Against SEC, Ripple Cryptocurrency Price Gets Green Light</span>
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<p class="p__1">and worldwide. Ripple also presumably distributed billions of XRP in exchange for non-cash consideration, such as labor and market-making services. According to the grievance, in addition to structuring and promoting the XRP sales used to fund the company's organization, Larsen and Garlinghouse likewise effected individual unregistered sales of XRP totaling roughly $600 million.</p>
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<p class="p__2">"Companies seeking the advantages of a public offering, consisting of access to retail financiers, broad circulation and a secondary trading market, need to comply with the federal securities laws that require registration of offerings unless an exemption from registration uses," stated Stephanie Avakian, Director of the SEC's Enforcement Division. "We allege that Ripple, Larsen, and Garlinghouse stopped working to register their ongoing offer and sale of billions of XRP to retail investors, which denied prospective purchasers of appropriate disclosures about XRP and Ripple's organization and other essential enduring protections that are fundamental to our robust public market system." " A Good Read are designed to ensure that possible investors consisting of, importantly, retail investors get essential info about a provider's organization operations and monetary condition," stated Marc P.</p>
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<h1 style="clear:both" id="content-section-1">Ripple (XRP) face à la SEC : les prochaines étapes de la Fundamentals Explained<br></h1>
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<p class="p__3">"Here, we declare that Ripple and its executives stopped working over a period of years to please these core investor security provisions, and as an outcome financiers did not have information to which they were entitled." The SEC's grievance, submitted today in federal district court in Manhattan, charges defendants with breaking the registration provisions of the Securities Act of 1933, and looks for injunctive relief, disgorgement with prejudgment interest, and civil penalties.</p>
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<p class="p__4">Waxman, Jon A. Daniels, and John O. Enright of the SEC's Cyber System. The case is being supervised by Kristina Littman, Chief of the SEC Enforcement Division's Cyber System. The SEC's litigation will be conducted by Jorge G. Tenreiro, Dugan Bliss, Ms. Waxman, and Mr. Daniels, and supervised by Preethi Krishnamurthy.</p>
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