Shareholders of SBI Holdings to receive dividends in XRP tokens

• Japanese SBI Holdings will pay dividends in cryptocurrency.
• Ripple company has to fight against accusations and lawsuits.

Japanese corporation SBI Holdings intends to pay dividends to shareholders in XRP tokens via cryptocurrency exchange VCTrade. Об этом говорится в пресс-релизе.

Thus, everyone who owns more than 100 shares of the company will receive 30 XRPs on their accounts with VCTrade that was launched the last year. Notably, the type of shares is of no importance. The shareholders can apply for dividends until March 31, 2020. The company will reveal more details in mid-November.

Ripple has problems

Meanwhile, Ripple is bombarded with accusations of all sorts. In mid-August, a group of investors filed a class-action lawsuit against a California fintech startup, accusing it of violating US securities laws. Notably, the plaintiffs refer to the guidelines of the US Securities and Exchange Commission (SEC) that set out the procedures to decide whether an asset is a  security.

Also, someone recently filed a petition on Change.org asking Ripple to stop selling tokens and crashing the price of the coin. The author of the petition suggested forking the network to give the community control over it if the company fails to fulfill the requirements.

Ripple’s CEO Brad Garlinghouse said that XRP was not a security, while the SEC’s guidance was not a law. He believes that token sales increase the coinsútility features as RippleNet is growing.

At the time of writing, XRp.USD is changing hands at $0.2555, mostly unchanged both since the beginning of Friday and on a day-on-day basis.