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SEC backs CBN, suspends approval of cryptocurrency-related
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Cryptocurrencies are having a wild 2021.
The Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple and two of its executives for offering digital securities to the public without registering the securities offerings. The complaint alleges that Ripple’s XRP is a security within the meaning of the Securities Act of 1933 and Ripple has issued millions of dollars of this security without the proper registration.