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Gate Square New & Returning Creator Rewards are ongoing!
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#Is the memecoin madness a top signal for markets? The lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) has created significant turmoil in the cryptocurrency market. The lawsuit began in 2020 when the SEC accused Ripple of violating U.S. securities laws by selling XRP to the public without registration. Ripple refuted the allegations, asserting that XRP is not a security.
Throughout the litigation process, the value of XRP has witnessed substantial declines at times, but also surged following positive developments in the case. Ripple is also considering conducting an initial public offering (IPO) outside the United States and plans to launch an exchange-traded fund (ETF) based on XRP.
This lawsuit not only affects Ripple and XRP but also establishes important legal precedents for the cryptocurrency industry as a whole.