SEC guidance gives ammo to lawsuit claiming XRP is unregistered security
An amended complaint to a year-old lawsuit brought against Ripple by XRP investors has added several new arguments, most notably a direct reference to the SEC's framework for determining if a digital asset is a security. In what may be the first case to use the frame work the complaint states that:
“XRP purchasers made an investment of money in a common enterprise”; “XRP investors had a reasonable expectation of profits”; and “the success of XRP requires efforts of Ripple and others”.
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