Ripple settles the lawsuit against YouTube… Details here
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Answer Ripple settles the lawsuit against YouTube… Details here
In previous articles on Arab Bitcoin about Ripple filing a lawsuit against YouTube, Ripple accuses YouTube of failing to protect XRP holders from YouTube-based scams.
Recently, Ripple resolved the issue without revealing any other details.
Ripple reaches a solution with YouTube:
We reported at Bitcoin Arab exactly last year in April that Ripple had taken legal action against the largest video-sharing platform, YouTube.
Ripple alleged that the Google-owned company had failed to protect its customers from the growing number of fraudulent transactions.
More specifically, Ripple focused on scams in which its CEOs were impersonated, as the scammers supposedly offered to double all XRP sent to a specific address.
Read:Bitcoin hits new peak in 2019 and records trading volume
Ripple said at the time that it wanted to hold YouTube accountable for not doing its part in protecting users and allowing scammers to spread their scams.
Now, about a year later, the two parties have settled the legal dispute, according to Ripple CEO Brad Garlinghouse.
last year, @ripple And I filed a lawsuit @YouTube For failing to enforce their own policies by allowing fake accounts (impersonating my/verified Ripple accounts) to perform XRP grant scams. We have now made a decision to work together to prevent, detect and remove these scams. 1/3
– Brad Garlinghouse (@bgarlinghouse) March 9, 2021
Although he noted that the exact settlement terms remain confidential, the CEO said that YouTube and Ripple have now come up with a solution to work together to prevent, detect and remove reported fraud.
Ripple and legal problems:
The name Ripple seems to have become synonymous with legal battles these days.
In late 2020, the US Securities and Exchange Commission filed charges against Ripple for conducting an unregistered security offering.
Read:Bitcoin in Arabic: The story of the Bitcoin price hike since the launch of the digital currency
Since then, Ripple has insisted on numerous occasions that the XRP token is not safe and has vowed to beat the regulator.
Ripple filed a motion to dismiss the lawsuit earlier this month.
The SEC responded and described Ripple’s defense attempt as legally inappropriate, as Ripple failed to comply with the law, and the issue between the two parties is still pending.
Read also:
The CEO of the Kraken platform reveals the reasons for stopping support for the cryptocurrency XRP
Chinese company buys $40 million worth of Bitcoin and Ethereum
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