XLM — Another Dead Coin Walking?
Could Stellar be next on the SEC’s Radar?
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There are three big stories in the cryptocurrency market right now. The first two relate to bitcoin and ether, and what seems like their unstoppable march to world domination. The third relates to the ‘problems’ at Ripple Labs (Ripple) whose woes overhang the fourth most valuable cryptocurrency XRP.
For those of you who have been on a news black out since before Christmas we will provide you with a short precis of the ‘problems’ we highlighted above. On 22 December the Securities Exchange Commission (SEC) lodged a $1.3B complaint against Ripple alleging that XRP, a cryptocurrency which it controls, is a security. That oversight on Ripple’s part could lead to a combination of fines and restitution if the SEC’s case is proven in court. With the SEC’s high knockout record the odds are not on Ripple’s side. Ripple’s options are limited. Ripple can’t settle because they simply don’t have the money! The war of words continues on social media between the pro-XRP stalwarts and the anti-XRP camp who saw this coming long before the SEC became…
