December 23, 2020 The SEC sues Ripple

In a lawsuit filed December 22nd, the U.S. Securities and Exchange Commission alleges that Ripple Labs’ 2012 sale of XRP violated U.S. security laws. XRP’s price has fallen 20% in response to the news—Bitwise, a crypto-index fund, liquidated its XRP position and some exchanges have delisted the cryptocurrency. Ripple maintains that XRP is not a security.