US SEC charges blockchain payments firm Ripple with conducting unregistered securities offering

WASHINGTON: 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 US$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.