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The agency accused them of misleading investors in XRP, the world s third-largest cryptocurrency December 22, 2020 Ripple Labs Inc. and its top executives were accused by the Securities and Exchange Commission of misleading investors in XRP, the world’s third-largest cryptocurrency, by selling more than $1 billion of the virtual tokens without registering with the agency. Ripple co-founder Christian Larsen and Chief Executive Bradley Garlinghouse “created an information vacuum” that allowed them to sell XRP into a market that only had information they chose to share, the SEC said in a lawsuit filed Tuesday in New York. The two men ignored legal advice that the cryptocurrency could be considered an investment contract and therefore was a security, the agency said.

New yorkUnited statesBradley garlinghouseChristian larsenExchange commissionRipple labs incUs district courtRipple labsChief executive bradley garlinghouseLabs incSouthern districtபுதியது யார்க்ஒன்றுபட்டது மாநிலங்களில்பிராட்லி கார்லிங்ஹவுஸ்கிறிஸ்துவர் லார்சன்பரிமாற்றம் தரகு