American Ryan Coffey (Ryan Coffey) on behalf of all investors filed a class action lawsuit against the blockchain startup Ripple, XRP II, Chapter Garlinghouse brad (Brad Garlinghouse), and another 10 people, accusing them of violating Federal securities law and California Code of corporations.

The plaintiff claims to have lost money on buying and selling tokens Ripple (XRP), which are securities, during the “infinite ICO” project. So, in early January of this year he became the owner of 650 XRP tokens that are purchased at a price of $2,60 apiece, and in 12 days sold them for licenzirovanie tokens USDT, losing about a third invested in the cryptocurrency funds.

In response, the head of corporate communications Ripple Cennik Tom (Tom Channick) stated that to count tokens XRP registered or unregistered securities — the prerogative of the Commission on securities and exchange Commission (SEC).

We will remind, recently Gary Gensler (Gary Gensler), who previously worked at Goldman Sachs and headed the Commission on urgent exchange trade of the USA (CFTC), and now teaches MIT students the use of blockchain technology in Finance, said that Ethereum and Ripple may constitute unregistered securities. In his view, the Ripple will be difficult to prove otherwise, as the company controls a significant part of the token and the development of the project.