Ripple Sent an Official Response to the SEC

Ripple's chief legal adviser Stuart Alderoti said that it was in an official letter that Ripple responded to the SEC

Stewart Alderoti explained a few things to know about Ripple:

  • XRP is a digital currency and is not under the jurisdiction of the SEC.
  • Ripple has not entered into any investment contracts with XRP holders.
  • Ripple did not conduct an ICO, did not offer tokens in return for investments.
  • The presence of XRP coins in the wallet does not give the right to claim the project's profit.
  • During the initial token sale, less than one percent of the coins issued over 8 years were distributed.
  • Token transactions are decentralized. The project management does not influence them.

Earlier, XRP tokens were recognized as a virtual currency by the FSA regulator. Ripple's management draws attention to this fact and says that the SEC is not entirely consistent in its decisions.