SEC Guidance Gives Ammo to Lawsuit Claiming XRP Is Unregistered Security

SEC Guidance Gives Ammo to Lawsuit Claiming XRP Is Unregistered Security – CoinDesk

A new amended complaint against Ripple draws on the SEC’s framework for digital assets to outline how XRP might be a security – likely the first federal case to do so. The filing also cites California advertising law, in addition to federal securities law, to argue that investors were misled by Ripple’s promotion of XRP.