MoneyGram International Parts Ways With Cryptocurrency Developer Ripple
While many financial services companies are embracing cryptocurrencies, there is one notable recent exception. On Monday, MoneyGram International (NASDAQ: MGI) and Ripple Labs -- developers of the cryptocurrency XRP (CRYPTO: XRP) -- separately announced that they are ending their partnership, in an agreement that is effective immediately.
The news comes shortly after Ripple landed in hot legal water. Last December, the Securities and Exchange Commission (SEC) filed an action against Ripple and two of its top executives. According to the regulator, Ripple Labs has raised more than $1.3 billion via unregistered digital asset securities offerings conducted since 2013.
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Source Fool.com
