‘100 Percent Not a Security,’ Ripple Claims
Fintech startup Ripple is pushing back against claims that its cryptocurrency, XRP, is a security under US regulations.
The XRP token - The company of public Ripple Consensus Ledger (RCL) and the firm for many of the firm's blockchain products - currently the third-largest cryptocurrency, with circulating market cap of more than $ 22 billion
Some allege that as Ripple distributions XRP by selling the coins - and it is subject to the same securities rules that govern stocks, bonds, and even many initial coin offerings (ICO) tokens.
If true, this could have serious legal ramifications, both for Ripple and the cryptocurrency exchanges that list it for trading.
Ripple, though, argues that those claims are unfounded.
"We are absolutely not a security We do not meet the standards for what is a security is based on the history of court law, "Ripple's chief market strategist, Cory Johnson, said during an interview with CNBC
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The discussion over whether XRP is a secur