Just In: SEC Gives Ripple Private Fundraising Greenlight
Main Idea
The SEC has granted Ripple a waiver from its 'bad actor' disqualification, allowing the company to proceed with private fundraising under Rule 506 of the Securities Act.
Key Points
1. The SEC's waiver removes Ripple's 'bad actor' label, which was imposed due to past securities law violations.
2. The 'bad actor' disqualification had previously barred Ripple from using Rule 506 exemptions under Regulation D for private fundraising.
3. With the waiver, Ripple can now avoid the fundraising restrictions that were in place due to the disqualification.
Description
Ripple has been granted a waiver by the SEC from its "bad actor" disqualification
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