Whether or not XRP (XRP) is a security has been lingering in the crypto space for some time. The U.S SEC, earlier this year, said that Bitcoin (BTC) and Ethereum (ETH) are not securities. XRP enthusiasts became more worried as the SEC said nothing about XRP.
Michael Didiuk Says XRP Is Not a Security
However, Michael Didiuk recently said that XRP is a currency, not a security. Michael Didiuk is a former member of the U.S SEC. Didiuk also gave his reason why he believes XRP is not a security. He pointed out the Howey test that the Supreme Court laid out in 1946 to determine if an asset is a security. He said there are four factors to determine this, and they are:
- Investment of fund
- Expectation of profits
- A common enterprise
- The efforts of a promoter or intermediary to pioneer the expected profit.
Didiuk said it any of these factors are not present in an asset, then it’s a security. Didiuk said that XRP will continue to run without Ripple. As a result, there is an absence of an intermediary in XRP, making it a non-security.
XRP (XRP) Price Today – XRP / USD
XRP Might Shock the World in 2019, As It Moves at Very Fast Pace
XRP (XRP) have seen a considerable level of success in the crypto space. The digital currency is moving at a very fast speed, and anything can happen at this moment. Ripple is also strongly backing up the digital currency, providing it with all the support it needs.
Recently, Phillip Nunn – a well-known digital currency investor – said that XRP will be the Microsoft of digital currency. He said many won’t agree with what XRP stands for at the moment, but it will penetrate the industry just like Microsoft.
Ripple also has plans of dominating the finance industry. Ripple is building international payments that use XRP, further exposing the coin to the world. The firm is also working on a built-in payment system in web browsers. This would allow for payments to vendors, content creators, and loved ones in XRP.
With the recent trend and developments around XRP, the digital currency might surprise the world in 2019.