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Ripple coin (XRP).

Leave it up to a cryptocurrency company named Ripple Labs to be at the center of a lawsuit with potentially wide-reaching consequences. In May 2018, Ripple Labs was hit by a securities class action filed in the San Francisco Superior Court and brought by Ryan Coffey, an investor in the company’s XRP cryptocurrency. The lawsuit argues that, because of past SEC comments and the way XRP is distributed and managed, XRP is a security and as such is in violation of federal securities laws.

Rhys Dipshan

CT-born, New York-based legal tech reporter covering everything from in-house technology disruption to privacy trends, blockchain, AI, cybersecurity, and ghosts-in-the-machine. Continually waiting for law to catch up with tech. (It's like waiting for Godot, but without the clowns)

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