As we reported in a previous note, the company Ripple Labs, Inc., developer of the Ripple payment protocol and its exchange network, was accused by the United States Securities and Exchange Commission (“SEC”) for offering unregistered securities ( worth up to 1.3 trillion dollars) and that thanks to this, the founders of the company would have managed to finance their company.
Negotiations were under way on this controversy to reach an agreement before the courts made a decision. However, both parties presented a letter addressed to the judge in charge of the case, stating that despite the meeting between the parties and the presentation of their positions regarding the controversy, there is no indication that they have reached an agreement at the moment, reported Cointelegraph.
Ripple has pointed out that the SEC's change of authorities would have truncated negotiations between the two parties, as key personnel in the SEC administration were replaced following the presidential inauguration of Joe Biden, it noted. Criptonoticias.