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Anyone interested in the latest Ripple news should get a cup of tea and sit down, as there’s a lot to go over. As it continues to go to war with the SEC over a legal case regarding its token XRP, with potentially uplifting or devastating consequences for the wider cryptocurrency market and coins like Caged Beasts (BST). Ripple also purchased the Swiss startup Metaco recently, implying a position of strength.
Ripple’s Battle With The SEC Rumbles On
American authorities have been clamping down on cryptocurrency with some intent in recent months. One of the most prominent examples of this has been how the SEC and Ripple have been locked in a dispute over whether its token XRP should be classified as a security or not.
What does this mean? In December 2020, the SEC filed a lawsuit against Ripple Labs, alleging that its token XRP was an unregistered security and that Ripple Labs had conducted an illegal security offering amounting to $1.3bn.
Let’s begin by clarifying the Securities and Exchange Commission’s (SEC) definition of a security. A security refers to a financial instrument that holds monetary value and can be bought or sold within the financial markets. Common examples include stocks, bonds, and options, among others. In the United States, any security must be registered with the SEC, and violating its regulations can result in severe penalties.
To determine whether something qualifies as an investment contract, the SEC employs the Howey Test. This test characterizes an investment contract as an arrangement involving the investment of money in a common enterprise, with an expectation of profits to be gained from the efforts of others. Utilizing this framework, the SEC argues that XRP should be classified as a security, aligning with its broader stance that the majority of cryptocurrencies circulating in the market should be deemed securities.
Naturally, Ripple, the company associated with XRP, has strongly contested the SEC’s claims. Ripple asserts that the sale of XRP does not meet the criteria of an investment contract, as no formal agreement is signed during the transactions. Furthermore, Ripple argues that XRP does not satisfy the parameters set by the Howey test.
Should Ripple emerge victorious in court, it has the potential to ignite a significant surge in cryptocurrency investment, with XRP, in particular, experiencing a price rally. Conversely, if the SEC were to secure a legal victory, the consequences could be detrimental to the entire cryptocurrency industry.
Ripple Purchases Metaco In Uplifting News
In other Ripple news, Metaco was purchased. This is a Swiss firm that holds digital assets securely on behalf of its clients. It’s likely that Ripple Labs did this to expand its global reach and widen its range of services. Ripple Labs will hope that this deal articulates to investors that Ripple Labs remains strong despite the pressures of the SEC case weighing on it.
Metaco was founded in 2015 and offers a variety of services geared toward aiding financial institutions to store, issue, trade, and manage digital assets safely. Serene custody of crypto assets has never been more important in the wake of the FTX collapse and multiple other crypto platforms subsequently collapsing.
Caged Beasts Is A New Meme Coin On The Scene
There will be many cryptocurrencies anxiously awaiting the outcome of the legal dispute between Ripple Labs and the SEC, and one of them will be Caged Beasts. As a new meme coin, it is currently in the stage of developing its platform and creating an appeal to new investors. Its story encircles a strong belief in decentralization and wishing to see global finance liberated from oversights.
However, should the SEC prove triumphant in its case, this would be a turning point for cryptocurrency, and new coins like Caged Beasts could also be affected. No doubt Caged Beasts, its team, and its supporters will be keenly following the latest Ripple news.
It is currently gearing up for its presale stage, and in order to keep fully in the loop, all it takes is an email sign-up on the homepage to get the presale stage 1 news, which would represent the best price for this promising meme project.
For more information on Caged Beasts, see below:
Website – cagedbeasts.com
Telegram – https://t.me/CAGEDBEASTS
Twitter – https://twitter.com/CAGED_BEASTS
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