Ripple, a US-based cryptocurrency company, has expressed its commitment to fight the lawsuit brought by the US Securities and Exchange Commission (SEC). The lawsuit accuses Ripple and its co-founders of violating securities laws by selling $1.3 billion worth of their cryptocurrency, XRP, without proper registration. Ripple argues that XRP should be considered a commodity and not a security. In a recent ruling, a judge stated that XRP cannot definitively be classified as a security, which opens up opportunities for Ripple to expand its business globally. Other cryptocurrency companies, such as Binance and Coinbase, are also facing similar lawsuits from the SEC. Ripple’s determination to defend itself sets an important precedent for the crypto industry’s relationship with regulators. The outcome of the lawsuit will likely have an impact on the crypto landscape in the US and beyond.
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