Fintech Litigation To Watch In 2023
In Law360's article "Fintech Litigation To Watch in 2023" [sub. req.], Joel S. Telpner was quoted discussing the ongoing battle between the SEC and Ripple Labs Inc. over claims that the enterprise blockchain company violated securities laws by selling billions of its XRP tokens without registering them with the regulator.
Joel told Law360 that even if the SEC wins a determination that Ripple's cryptocurrency XRP is a security, that won't necessarily mean that all cryptocurrencies are also securities.
He also forecasted tough times for the crypto industry in 2023, saying he anticipates continued enforcement actions, more bankruptcies and more fraudulent activities to come to light.