SEC Challenges Ripple’s Latest Venture: Potential Impact on XRP Cryptocurrency

• The SEC has recently criticized Ripple’s yet-to-be-launched stablecoin, labeling it as an “unregistered crypto asset”.
• Ripple’s CEO, Brad Garlinghouse, remains committed to global expansion and establishing XRP’s role in the future financial infrastructure, despite regulatory challenges in the US.

The SEC criticizes Ripple’s planned stablecoin, escalating the ongoing conflict between the two entities. Ripple’s CEO, however, remains focused on global expansion and the role of XRP in future financial infrastructure.

The SEC Fires Shots at Ripple… Again

Ripple’s upcoming stablecoin, pegged to the American dollar, has not yet been launched. However, this hasn’t stopped the US Securities and Exchange Commission (SEC) from criticizing it. Court documents shared by numerous XRP users reveal that the regulator describes the financial product as a “new unregistered crypto asset”. Ripple revealed its intentions to introduce a stablecoin nearly a month ago, with CEO Brad Garlinghouse arguing it could serve as a bridge between traditional finance and the cryptocurrency sector. The exact launch date remains unclear, but the company’s chief technology officer, David Schwartz, disclosed that there will be some updates in June, such as “announcing the name”.

Ripple’s Ongoing Legal Battle with the SEC