The U.S. Securities and Exchange Commission is trying to treat the cryptocurrency XRP as a security even as it exempts Bitcoin and Ether from being regulated like stocks or bonds, XRP developer Ripple Labs Inc. said.
In a court filing Thursday, Ripple pushed back against the SEC, which had sued Ripple, its co-founder Christian Larsen and Chief Executive Officer Bradley Garlinghouse in December, claiming they deceived investors in XRP by selling more than $1 billion of the virtual tokens without registering with the agency.
Bradley Garlinghouse
Photographer: Wei Leng Tay/Bloomberg
The SEC can’t regulate XRP because it’s a medium of exchange -- a virtual currency ...
