legal requirement . This is after the SEC sued San Francisco-based Ripple , alleging its XRP cryptocurrency is an unregistered securities offering – or an investment contract “ without a contract ” – as opposed to a currency . This has damaged the market value of XRP ( which you can ’ t insure against , unfortunately ); should the SEC ’ s case win ( the case is ongoing at the time of writing ), it would mean XRP investors have placed their funds into an illegitimate cryptoasset .
Although this example could lead to wider volatility and mistrust in crypto , Seely notes : “ The issues surrounding cryptocurrency do
“ There is now enough data to reliably and cost-effectively price the risk ”
KATHARINE WOOLLER BUSINESS UNIT DIRECTOR ,
COINCOVER
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