This week’s Crypto Biz explores Arbitrum’s latest proposal, Ripple’s two-year battle with the SEC and a large corporations’ coalition to build blockchain solutions for institutional investors.
For payment platform Ripple — sued by the U.S. Securities Exchange Commission in 2020 — defense costs have already topped $200 million, Cointelegraph has learned. The SEC claims Ripple sold XRP tokens as an unregistered security in the same way it has recently accused many other crypto companies.
The tokens were generated through base fees and surplus revenue from network transactions. Although the proposal has gained support, some community members voiced concerns about the revenue distribution serving as a way to label ARB tokens as securities.
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