SEC Should Drop Litigation Over Ripple's XRP Token

Law360 (May 5, 2021, 4:24 PM EDT) -- In litigation settings, it often pays to heed the advice contained in Kenny Rogers' classic song "The Gambler": "You've got to know when to hold 'em / Know when to fold 'em."

This is useful advice for the U.S. Securities and Exchange Commission's ongoing litigation against the creators of the cryptocurrency XRP at Ripple Labs Inc. The SEC alleges that XRP is a security and its sellers were required to file formal initial public offering documents with the SEC and abide by the heavily regulated IPO process, and that failure to do so eight years ago and ongoing trading in the...

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