The political campaign rally of Donald Trump recently in the South Bronx, New York, has one of the attendees promoting “XRP is not a security.”
XRP Not Security Advertised in Trump’s Campaign
In a recent post, U.S.-based X user Craig Brittain called attention to this development that surfaced during Donald Trump’s campaign. The presented video was a coverage from Fox Business News.
As supporters stood to listen to Trump’s present speech, many took out their phones to capture the session. As the video depicted, one of those present raised a placard bearing a caricature of Trump with the inscription “XRP is not a security.”
NOW: Someone at the Trump rally in the South Bronx has a sign that says XRP IS NOT A SECURITY pic.twitter.com/7dX85FaTLS
— Craig R. Brittain (@RealBrittain) May 23, 2024
XRP Not Security
For context, the U.S. SEC contested that XRP was a security when it commenced a lawsuit against crypto payment firm Ripple Labs in December 2020. The lawsuit accused Ripple of raising $1.3 billion by selling XRP in what the SEC claimed was an unregistered offering of securities to investors both in the United States and globally.
However, Ripple Labs challenged the claim over the years and secured a partial victory in July 2023. Specifically, District Court judge Analisa Torres ruled that XRP, by itself, is not a security.
Donald Trump is Welcoming to XRP
Precisely why the XRP enthusiast chose to promote this court decision at Donald Trump’s campaign rally is indefinite as the ruling is already ten months old. Meanwhile, it emerged just after Trump’s campaign began accepting donations via cryptocurrencies like XRP.
Before the official announcement welcoming crypto donations, Trump has been an open advocate for cryptocurrencies. Two months ago, he pledged to authorize Bitcoin for payments if re-elected president.
Moreover, Trump stated that his administration would avoid unfavorable crypto regulations, as observable in the Joe Biden regime, with Gary Gensler as chairman of the SEC. In his words, “If you like crypto in any form, you better vote for Trump.”