XRP is a security, according to Keiser.
Max Kaiser asserts that XRP is a security as the line between commodities and securities in the US crypto space remains blurred.
In a tweet today, Popular Bitcoin Maximalist Max Keiser asserted that XRP is a security.
“Technically, XRP is a security,” Keiser tweeted in a retort to a claim by a user that XRP is a digital asset.
Technically, XRP is a security. https://t.co/4bjAm4XG8e
— Max Keiser (@maxkeiser) December 14, 2022
In an earlier tweet, the broadcaster had said, “Good-bye XRP & ETH” in response to a Bitcoin Magazine report where US Securities and Exchange Commission chief Gary Gensler said the SEC is ready to carry out enforcement action on companies violating securities law.
It bears mentioning that this assertion is not uncommon amongst Bitcoin maximalists. Notably, most of them believe that most, if not all, crypto, except for Bitcoin, are securities. For example, MicroStrategy founder and Bitcoin evangelist Michael Saylor made a similar claim over a week ago, as reported by The Crypto Basic.
Notably, the debate on what constitutes security in crypto will likely rage on until regulators and lawmakers come together to provide regulatory clarity. However, judging from XRP’s decentralized nature and use cases per previous metrics provided by regulators and recently cited by attorney John Deaton, it isn’t easy to assume that XRP is a security.
Ripple remains locked in a two-year-long case with the SEC over this debate.