Article taken from: www.coindesk.com
Makoto first bought the digital token XRP in 2017, a year after its issuer, San Francisco-based Ripple Labs, launched a joint venture with one of Japan’s most respected financial services institutions, SBI Holdings Inc. Soon after, the popularity of XRP soared in Japan. […] XRP was probably the single most popular token or cryptocurrency in Japan. It was also backed by SBI. It invested in Ripple,” Mike Kayamori, founder and chief executive officer of crypto trading platform Liquid Global , told CoinDesk. […] Japan considers XRP to be a cryptocurrency, but this has no bearing on the SEC’s allegation that Ripple sold XRP in unregistered securities transactions. […] The SEC complaint against Ripple Labs alleges that from 2018 to 2020, Ripple made “institutional sales” of at least 1.1 billion XRP (worth over $300 million) to SBI. […] Ripple Japan FSA XRP Securities and Exchange Commission SBI Ripple Asia Global Macro Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies .
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