Ripple General Counsel Stuart Alderoti said the company received legal advice from Perkins Coie in 2012 that cryptocurrency XRP would not be considered a security by regulators.
“The conclusion of the disclosed 2012 memos is absolutely clear: XRPs “are not securities.” The fact that Ripple had the foresight to seek legal advice from a prominent firm in 2012 – in the absence of clear case law and five years before the SEC was even talking about digital assets – deserves respect,” Alderoti wrote.
The deadline for an expert decision on the released documents is set for February 28.
The Securities and Exchange Commission (SEC) sued Ripple in 2020, arguing that XRP is not a currency, but a security, and therefore subject to relevant securities laws.
Holpop News
Holpop News
Ripple disclosed 2012 documents in which lawyers said XRP has no sign of a security
posted on February 20, 2022 by holpop in Blockchain
