Ripple (XRP) Executive: "U.S. SEC's Scope Includes Only Securities Transactions... Simple Asset Sales Cannot Be Regulated"
JH Kim
Summary
- A Ripple (XRP) executive stated that the U.S. Securities and Exchange Commission (SEC) can only regulate securities transactions.
- He mentioned that simple asset sales are not subject to SEC regulation.
- He emphasized that the claim that virtual asset tokens can evolve from securities to non-securities lacks legal basis.
Stuart Alderoty, Chief Legal Officer (CLO) of Ripple (XRP), stated on the 31st (local time) via X (formerly Twitter) that "the jurisdiction of the U.S. Securities and Exchange Commission (SEC) includes only securities transactions," and "simple asset sales cannot be regulated. The sale of gold bars with contractual rights, ownership, or equity in a gold mine is likely to be considered a securities transaction."
He continued, "On the other hand, gold bars sold without rights and obligations are simple asset sales, which the SEC cannot regulate," emphasizing that "the theory that virtual asset (cryptocurrency) tokens can potentially evolve from securities to non-securities is a fabricated error without legal basis."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
