Ripple lawyer Bill Morgan has put to rest arguments suggesting that XRP lacks legal clarity due to the absence of formal classification. For a while, Bitcoin maxis have been propagating the notion that the lack of classification for the Ripple cryptocurrency means that it holds a legal ambiguity. Morgan called this fundamentally flawed through a logical explanation. Ripple Lawyer Rejects XRP Classification By Bitcoin Maxis For years together, Bitcoin has been enjoying the “commodity” status as approved by both – US SEC and US CFTC. However, amid the 4-year-long SEC lawsuit, XRP’s status had been in limbo, until recently when Judge Torres ruled that retail XRP sales don’t constitute as investment contracts, however, institutional sales do classify as one. Bitcoin maxis have been arguing for a while that there’s not enough legal clarity around XRP since it hasn’t been classified. Ripple lawyer Bill Morgan stated that such an assumption that… Read More at Coingape.com
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