GateHub

U.S. cryptocurrency exchanges had to consider removing XRP amid a lawsuit filed by the Securities and Exchange Commission (SEC). The lawsuit is based on SEC’s claims that the crypto is unlisted fundraising security issued by Ripple Labs. Among these exchanges, Coinbase deserves a special mention. Apart from the usual considerations about XRP listing, it also wants SEC approval to issue its shares and trade with private investors. If the commission wins the case, XRP could be classified as a security,…

Ripple (XRP) is a cryptocurrency project created by Chris Larsen and Jed McCaleb under Ripple Labs. It was primarily built as a digital asset to overcome several international banking problems, cross-border payments, and sourcing liquidity. As a result, XRP has remained among the top 10 cryptocurrencies by market cap since 2017. The main target audience of XRP is banks and payment providers, where the speedy settlement time can function as a liquidity source. This allows Ripple to tap new and…