Ripple's Stuart Alderoty says SEC has not labeled XRP a security RippleXRP XRPCommunity XRPArmy XRPHolders XRPthestandard
The Ripple general counsel was reacting to a New York Times report on SEC Chair Gary Gensler in the wake of the FTX collapse.
CryptoLaw founder John Deaton, commenting on Alderoty’s post, made it known that only the court could label XRP as a security."Let me add that the SEC itself acknowledged that it does not determine whether an asset is a security — only the Court," he wrote. The Howey Test, a legal analysis that was defined by the Supreme Court in 1946, serves as the basis for Gensler's claims that most cryptocurrencies were securities.The cryptocurrency sector has responded that the SEC is attempting to cram digital currencies into an antiquated framework.
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