Furthermore, the Court ruling over the SEC’s lawsuit is the only instrument for checking the legitimacy of Ripple’s claims. The SEC has admitted in a different lawsuit submited by XRP owners against the department that it has not given any decision on XRP’s position. Tetragons’ complaint, as per Ripple, is a good bid to reap the benefits of the SEC’s claims, which is “dead wrong.” Direct: This category currently holds the investment in the Ripple Labs. And when it is made, it will be made by the District Court.”, “The SEC is not the authority making the determination on this track is permissible under the agreement.” vehicles in Europe and North America were spread across 22 different positions. Ripple is prohibited from trading XRP to the extent that it must have a zero balance. Tetragon litigation has issued a temporary restraining order limiting XRP sales. The question is not yet resolved, so a determination has not yet been made. The court with jurisdiction over the Ripple Labs vs. The enforcement action, by contrast, asks that question. A determination …resolves the question of whether XRP is a security. “But XRP is no more a security after the SEC filed the enforcement action than it was before it. The case was filed after the SEC accused the firm and its two prominent manager with operating an unlicensed securities to earn worth $1.3 billion. Ripple has stated at the period that the case had no validity because XRP had not yet been deemed a security.
#Tetragon xrp series
Tetragon, a UK-based hedge fund with $2.32 bil total assets, has accused Ripple early in the year, claiming it wants to implement its statutory right to ask Ripple to sell Series C stocks it owns. As a result, according to the San Francisco-based fintech company, the SEC has NOT defined XRP as a ‘security.’ The Court in Delaware has dismissed Tetragon Financial Group Ltd.’s allegations that the US Securities and Exchange Commission (SEC) has formally defined the position of XRP.
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