Ripple Facing Lawsuits for Selling XRP in Securities Offering

Ripple is being sued for selling its XRP token in an unregistered securities offering, the Coin Telegraph reports.

A number of class-action lawsuits have been reportedly filed against Ripple in recent months.

In addition, former Chairman of the Commodity Futures Trading Commission (CFTC), Chris Giancarlo, is arguing in a recently published paper that Ripple’s XRP is not a security.

Giancarlo was behind the CFTC’s stance that Bitcoin and Ethereum are not securities.