According to Foresight News, the U.S. Securities and Exchange Commission (SEC) described Ripple’s proposed stablecoin as an “unregistered crypto asset” in its latest court filing against Ripple. The SEC further demonstrated that without a permanent injunction against the company, the company will continue to engage in unregulated activities.

According to Foresight News, Ripple revealed its plans to issue a stablecoin in April, with details to be announced in June.