XRP Is Not A Security, Forbes Says
The issue of XRP being security has been long debated and this has been a shadow cast upon Ripple and XRP for a really long time.
Now, the issue is debated once again by Forbes in a recent article.
Is XRP a security?
They write that when Chris Giancarlo was the chairman of the Commodity Futures Trading Commission he became a really popular figure in certain corners of the crypto community.
What he did was help establish criteria that eventually led to BTC and ETH being declared commodities, “more like coffee or sugar than stock in a company,” as Forbes puts it.
The U.S. SEC then followed suit, eventually, and they also decided to declare that BTC and ETH weren’t securities.
Forbes continues and notes that Chairman Giancarlo who people are calling “crypto dad” these days following a speech that he gave to the Congress when he said that thanks to Bitcoin, his kids are showing interest in finance, wrote a detailed argument published recently in the International Financial Law Review.
The work includes explanations for which XRP is not a security.
We recommend that you check out Forbes’ article in order to learn more info.
XRP bullish predictions
Other than this, in terms of pricing, at the moment of writing this article, XRP is trading in the red and the coin is priced at $0.175629.
Recently, it’s been revealed that the richest addresses are buying more and more XRP.
According to the data analysis service Ledger.exposed, provided by the popular Ripple developer Wietse Wind, some XRP whales have accumulated more than 1.5 million XRP during the last months.
“By looking at the exact figures, it is worth noting that 8 users are responsible for a huge amount of more than 1 billion XRP. Also, 8 investors own between 500 million and one billion XRP,” according to official notes.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.