XRP is a Currency, Not a Security; Former SEC Member Reveals the Reason

Michael Didiuk, a former employee of the US Securities and Exchange Commission [SEC] spoke about XRP, stating that the cryptocurrency is not a security but rather a currency. He also gave an appropriate justification for his statement. Didiuk mentioned the Howey test laid out by the Supreme Court in 1946 determines whether an asset is a security is based on four factors. The four factors mentioned by the SEC ex-employee were the investment of money, a common enterprise, expectation of profits, and the efforts of a third party or promoter pushing that profit. In his words… […]
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