In it’s Q4 and full year financial results released today MoneyGram International revealed that it has suspended trading in XRP due to uncertainty over the Securities and Exchange Commission’s lawsuit. The agency has said XRP is an unregistered security illegally sold by Ripple over the past eight years.
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Former SEC Enforcer Tells SWELL Crowd XRP Is Not a Security
Michael Didiuk says XRP doesn’t meet Howey Test criteria
Ripple announced plenty of good news at its crypto orgy SWELL the last two days, including the long-awaited launch of XRapid, the international remittance protocol that uses XRP. Crypto investors were generally pleased with what they heard and saw with the price of XRP essentially doubling in the week leading up to the gathering. But at least some thoughtful observers were waiting for a more fundamental question to be definitively addressed: Is XRP a security? Two different threads on XRPChat used the “800 lbs. gorilla” metaphor to discuss what was on everyone’s mind—whether the SEC would a) declare XRP a commodity, as it essentially has done with bitcoin and Ethereum,…
