Ripple Labs Inc Violated Federal Securities Law and Its Sale of Cryptocurrency XRP Directly to Sophisticated Investors

Ripple labs Inc violated federal securities law and its sale of cryptocurrency xrp directly to sophisticated investors. But it sells on public exchanges did not involve securities a u.s. Judge said in a ruling that sent the cryptocurrency soaring Xrp was up 25% after the ruling SEC had accused the company and its current and former chief executives conducting a 1.3 billion dollar unregistered security offering by selling Xrp which ripples founders created in 2012.