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US Court Dismisses Claims Against XRP: Report Shows Ripple Paid Moneygram $15.1M in Q2

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The Northern California District Court finds that claims against Ripple Labs and its token made by two investors cannot be proven.

The legal dispute, which began in May 2018, pitted Ripple Labs including CEO Brad Garlinghouse and disgruntled investors.

According to a report, the discontented investors wanted the court to determine whether the “native token XRP is, or is not a security by legal definition.”

The investors insist that “Ripple should have made a formal application to the U.S. Securities Exchange Commission (SEC) for their cryptocurrency XRP to become a security.”

Ripple is “adamant of the ...

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