Ripple has always been a company that attracts a lot of attention in the cryptocurrency world. Unfortunately, that also means that the company has to deal with lawsuits every now and then.
Speaking of lawsuits, a new one has been filed by Bitcoin Manipulation Abatement LLC.
According to that group, Ripple and CEO Brad Garlinghouse have violated security laws while marketing XRP.
The lawsuit is filed in a US federal district court.
It claims how investors were misled and lied to as XRP was sold as an unregistered security.
Interestingly enough, this is not the first time that someone claims Ripple’s native asset violated security laws.
Nearly all previous lawsuits have either been thrown out or withdrawn, for the time being.
Bitcoin Manipulation Abatement LLC also filed a lawsuit against crypto derivatives trading platform FTX in November 2019.
As many people had expected, this lawsuit was withdrawn a month later, for obvious reasons.
It is not unlikely to assume that this Ripple lawsuit will face a similar fate over the coming weeks.
For the foreseeable future, this company will remain under a lot of scrutiny.
Many people simply dislike the company and its asset.
Proving anyone violated securities laws is a different matter altogether.
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