The Securities and Exchange Commission lawsuit against Ripple could be close to over, according to lawyer Jeremy Hogan
Half of these politicians want crypto to fail because they don’t know anything about it and they’re mad that they only get a 6% return a year on the regular stock market
Why Ripple’s SEC lawsuit could have a lasting impact on crypto
Behind the SEC’s beef with Ripple
Ripple was founded in 2012 under the name NewCoin—later calling itself OpenCoin before finally settling on its current name—to offer a leading-edge alternative to the big-bank-owned SWIFT cross-border money-transfer network. The process of clearing funds on SWIFT can take as long as days, thanks in part to the need to convert among multiple currencies. To skip that delay, the SEC charges that the company created the roughly Bitcoin-like XRP digital tokens, along with software that allows banks to almost instantly convert funds into XRP for transfer, and then just as quickly convert it back to local currencies at the other end. (Ripple denies that it created XRP, arguing that only one of its two co-founders created the cryptocurrency.)
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