U.S. SEC charges blockchain payments firm Ripple with conducting unregistered securities offering

FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Tuesday said it filed an action against Ripple, the blockchain payments company associated with the cryptocurrency XRP, charging it with conducting a $1.3 billion unregistered securities offering.

The SEC said it also named two executives of San Francisco-based Ripple in the action. Ripple created and sold XRP, the third-biggest cryptocurrency by market value.

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