In a letter to the SEC, Ripple argued that fungible cryptocurrencies, including XRP, do not fit the definition of securities in secondary transactions. Legal opinions supporting this view emphasize the absence of investment contracts in these types of sales.
The SEC’s historical perspective classifies many digital assets as securities, leading to a protracted legal battle with Ripple. However, recent court rulings have favored Ripple, affirming that XRP itself is not a security.
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