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US regulator charges Ripple over its XRP asset, saying it s a $1.3 billion unregistered offering, not a cryptocurrency
US regulator charges Ripple over its XRP asset, saying it s a $1.3 billion unregistered offering, not a cryptocurrency
Kevin ShalveyDec 23, 2020, 16:21 IST
The Ripple logo is seen at the SIBOS banking and financial conference.Chris Helgren/Reuters
Blockchain company
Ripple has been running a $1.3 billion unregistered offering, akin to an unlicensed stock sale, according to a complaint filed Tuesday by the US
Securities and Exchange Commission. Issuers seeking the benefits of a public offering, including access to retail investors, broad distribution and a secondary trading market, must comply with the federal securities laws that require registration of offerings unless an exemption from registration applies, said Stephanie Avakian,
Bandar Algaloud/Reuters
The US government is deciding whether to offer immunity to Saudi Crown Prince Mohammed bin Salman, who is accused of trying to assassinate an exiled Saudi official, The Washington Post reported.
Saad al-Jabri, who previously worked in the top ranks of the Saudi Interior Ministry, sued Crown Prince Mohammed in a US federal court in August, claiming the prince sent a hit squad to kill him in Canada in October 2018.
The prince rejected the allegations in a December 7 motion to dismiss the suit, arguing that the crown prince is immune from prosecution as a head of state.
SEC Plans to Sue Ripple for Securities Violations: Reports
In interviews, the Ripple CEO told Fortune and the Wall Street Journal that the SEC plans to sue the company in the near future for offering unlicensed securities.
In brief
Ripple CEO Brad Garlinghouse said in interviews that the SEC is planning to sue the company for securities violations.
Garlinghouse said Ripple intends to fight the lawsuit.
XRP, the third largest crypto currency by market cap, plummeted in price by more than 13% today.
Ripple CEO Brad Garlinghouse told Fortune Magazine today that he expects the SEC to sue the company imminently for selling unlicensed securities. XRP, a cryptocurrency associated with Ripple, is valued at $23 billion and is the third largest cryptocurrency by market cap
The Trump administration is mulling immunity for Saudi Crown Prince Mohammed, who is accused of sending a hit squad to kill an exiled spy chief Bill Bostock US Secretary of State Mike Pompeo shakes hands with Saudi Crown Prince Mohammed bin Salman in Jeddah, Saudi Arabia, on September 18, 2019. The US government is deciding whether to offer immunity to Saudi Crown Prince Mohammed bin Salman, who is accused of trying to assassinate an exiled Saudi official, The Washington Post reported. Saad al-Jabri, who previously worked in the top ranks of the Saudi Interior Ministry, sued Crown Prince Mohammed in a US federal court in August, claiming the prince sent a hit squad to kill him in Canada in October 2018.
Trump considering legal immunity for Saudi crown prince accused in assassination plot
A State Department recommendation could also lead to the dismissal of the prince as a defendant in other cases, including ones accusing him of directing the death and dismemberment of dissident journalist Jamal Khashoggi in 2018.
By Spencer S. Hsu and Kareem FahimWashington Post
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Saudi Crown Prince Mohammed bin Salman, smiles as he attends the Future Investment Initiative conference, in Riyadh, Saudi Arabia in October 2013. AP Photo/Amr Nabil, File
WASHINGTON – The U.S. government is weighing a request to declare Crown Prince Mohammed bin Salman immune from a federal lawsuit accusing him of targeting for assassination a former top intelligence officer who could disclose damaging secrets about the prince’s ascent to power, according to legal documents related to the case.