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Ripple's Stablecoin Project Already Attacked by SEC

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Ripple's stablecoin project has appeared in the SEC's crosshairs even before its launch

, Ripple announced its dollar-backed cryptocurrency in early April. The"enterprise-grade" stablecoin, which will be launched both on the XRP Ledger and Ethereum, is supposed to bridge traditional finance with crypto.

Last year, U.S. District Court Judge Analisa Torres ruled that Ripple violated security laws with direct sales of the XRP token to institutional investors. Order’s holding for purposes of remedies shows an injunction is critical to avoid another violation," the agency said.

 

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