The project team believes that the reason was the lack of regulatory clarity in determining the status of XRP tokens.
Representatives of the Tetragon Financial Group have filed a lawsuit against the Californian fintech startup Ripple, amid the proceedings of the project with the US Securities and Exchange Commission (SEC). Information about this appeared on the official website of Ripple project.
Amid the start-up litigation with the SEC, the Ripple token lost its value and dropped to 5th place in the ranking of the most capitalized cryptocurrencies, according to the CoinMarketCap resource. Many XRP investors have suffered losses. The Ripple team took advantage of this to press charges against the SEC.
We will remind, earlier in the network there was information that the preliminary meeting in SEC case against Ripple is scheduled for February 22.
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