A collective lawsuit was filed against Moneygram due to statements regarding Ripple

Rosen Law Firm lawyers filed a collective lawsuit against the MoneyGram money transfer service due to statements regarding partnership with Ripple and XRP token. This is stated on the company’s website.

The application was submitted on March 1 on behalf of a group of persons investing in Moneygram from June 17, 2019 to February 22, 2021. According to lawyers, the company did not warn about the possible recognition of the XRP token security and the potential loss of the source of income in the form of commissions.

“As a result, the defendant’s public statements were inaccurate in essence or misleading in all cases. The plaintiffs claim that they suffered losses when reliable information has reached the market, ”said lawyers.

Since the summer of 2019, Moneygram has used the ON-Demand Liquidity system to process cross-border payments. For interaction with it, the service received commission in XRP.

At the end of 2020, the SEC accused Ripple of the sale of unregistered securities in the form of tokens by $ 1.3 billion. Later, the regulator clarified the responsibility of the CEO of Brad Garlinghaus and its co -founder Chris Larsen.

Against the background of the SEC claims, large platforms refused to support XRP token token. Among them are Coinbase and Okcoin, Galaxy Digital, Bitstamp and others. The Grayscale Investments Management Company has announced the elimination of the XRP investment trust, and 21SHares excluded Ripple token from its traded exchange products.

From the moment of filing https://gagarin.news/ua/news/bandai-namco-sega-and-square-enix-are-going-to-launch-blockchain-games/ a claim, MoneyGram has been waiting for a wait -and -see. February 23, 2021 Service refused to use the product based on the XRP token token.

Recall that the user of the Coinbase cryptocurrency exchange filed a court to the platform for selling XRP tokens.