Ripple Labs is embroiled in a legal dispute with the U.S. Securities and Exchange Commission (SEC) over the regulatory status of its digital currency, XRP. The conflict centers around the SEC's assertion that XRP should be considered a security, which Ripple strongly disputes.
This ongoing legal battle has substantial implications for Ripple and its market standing. Ripple CEO has publicly criticized the SEC's approach, arguing that the regulatory body is unfairly targeting XRP compared to other cryptocurrencies, causing significant challenges for the company.
