An investor has filed a class action lawsuit on behalf of all Ripple investors against the blockchain startup with claims that they lost money through trading the virtual currency XRP, saying that the company breached securities laws.
Attending a UK Parliament hearing on cryptocurrencies yesterday, Ripple was put in a defensive position by members where it needed to vindicate digital currencies and the purpose of blockchain in Ripple’s project.
Ripple’s head of regulatory relations Ryan Zagone is calling on UK regulatory authorities to end the “Wild West” time in the cryptocurrency age, prompting a look into Japan’s regulations as a blueprint.
Santander promises to launch the new payment system by Friday. With hopes to cross borders in both geography and innovation, the group is excited about the project backed by Ripple developed technology.