SEC Targets Ripple (XRP) in Legal Battle: Stablecoin Now in Crosshairs!

• The US Securities and Exchange Commission (SEC) has targeted Ripple’s new stablecoin project in its latest lawsuit against the company.
• The SEC has requested a preliminary injunction from the court against Ripple, alleging that the planned token is an “unregistered crypto asset”.
• The regulatory body has also proposed a hefty penalty of nearly $2 billion for Ripple to deter the company and other imitators.

The SEC has targeted Ripple’s new stablecoin project in its latest lawsuit, requesting a preliminary injunction and proposing a hefty penalty of nearly $2 billion.

SEC Targets Ripple’s New Stablecoin Project

In its latest lawsuit against Ripple, the US Securities and Exchange Commission (SEC) has targeted the company’s new stablecoin project. In a redacted solution response summary dated May 7, the SEC described the planned token as an “unregistered crypto asset”. The regulatory body has also requested a preliminary injunction from the court against Ripple.

SEC Requests Preliminary Injunction Against Ripple