US SEC calls Ripple’s proposed stablecoin an ‘unregistered crypto asset’
The latest court documents filed by the US SEC against Ripple seem to be targeting the company's proposed stablecoin. In a remedial response filed on May 7th, the regulatory agency described the proposed stablecoin as an "unregistered crypto asset" and further demonstrated that without a permanent injunction against the company, it will continue to engage in unregulated activities. Ripple revealed plans to issue a stablecoin in April, but has since not provided further details on the token.
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