🚀 In a recent letter (May 27), Ripple made it clear to the U.S. Securities and Exchange Commission (SEC) that fungible cryptocurrencies, such as XRP, should not be considered securities when traded in secondary markets.
📜 The company cited cryptocurrency law expert, Lewis Cohen, who argues that in secondary sales there is no investment contract or legal relationship between the issuer and the buyer, as required by the definition of a security.
🧠 Additionally, Ripple supported the 'new paradigm' proposed by Hester Peirce, SEC commissioner, who criticized the regulator's current approach and acknowledged that most crypto assets are not securities.
⚖️ This statement is a new blow in the long legal battle between Ripple and the SEC, which began in 2020. Although the SEC attempted to classify XRP as a security, the courts determined that the token itself is not, especially in secondary transactions. 📉📈
🔁 Do you think this shift in focus at the SEC will mark the beginning of clearer and fairer regulation for cryptos?
💬 Leave your opinion in the comments!
#Ripple #XRP $XRP
