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Subscription failed Subscribe Thank you for subscribing! 2 hours ago - Economy & Business SEC formally sues cryptocurrency company Ripple Dan Primack, author of Pro Rata Illustration: Sarah Grillo/Axios U.S. securities regulators on Tuesday sued cryptocurrency giant Ripple, and both its CEO and executive chairman, for allegedly selling over $1.3 billion in unregistered securities. Ripple on Monday had publicly disclosed that the lawsuit was to be filed imminently, and said it does not believe its tokens needed to be registered. Why it matters: XRP, the cryptocurrency created by Ripple in 2012, has the crypto industry's third-largest market cap at around $22 billion, behind only Bitcoin and Ether. Go deeper: Ripple lawsuit could chill crypto industry investment Go deeper Dan Primack, author of Pro Rata 7 hours ago - Economy & Business SEC lawsuit against crypto firm Ripple could put chill on industry investment Illustration: Sarah Grillo/Axios Ripple, one of the world's most valuable cryptocurrency companies, on Monday disclosed that the SEC plans to sue the company, its CEO and its executive chairman for allegedly selling unlicensed securities. [Update: The lawsuit was filed Tuesday afternoon] Why it matters: This could put a chill on some crypto industry investment, as Ripple has no interest in settling fast and moving on. It also could mildly complicate the upcoming IPO for Coinbase, where XRP-to-dollar activity made up 15% of trading volume over the past 30 days (per Nomics). Go deeper (2 min. read) Kia Kokalitcheva 20 hours ago - Economy & Business Cryptocurrency company Ripple says SEC lawsuit is imminent Illustration: Sarah Grillo/Axios Crypto company Ripple announced on Monday that it's expecting a lawsuit from the U.S. Securities and Exchange Commission over its sale of XRP, the cryptocurrency it created. Why it matters: If filed, it would be the highest-profile lawsuit of its kind. The SEC has sued a number of cryptocurrency companies in recent years over what it has deemed illegal sales of securities. Go deeper (1 min. read) Bethany Allen-Ebrahimian, author of China 8 mins ago - World Scoop: DHS to issue China data security warning to U.S. businesses Photo: Samuel Corum/Anadolu Agency/Getty Images The Department of Homeland Security is set to issue an advisory to U.S. businesses, warning them of data security risks associated with using communications equipment and services from China-linked companies. The big picture: The advisory comes as the Trump administration makes a final push on China, highlighting the administration's emphasis on the risks posed by the close relationship between some Chinese companies and the Chinese government. Go deeper (1 min. read) Axios gets you smarter, faster with news & information that matters. Copyright Axios Media, 2020 About About Axios Advertise with us Careers Events Axios on HBO Axios Local Privacy and terms Online tracking choices Contact us Subscribe Axios newsletters Axios app Axios podcasts Courses