Ripple Chief Legal Officer Counters SEC Case That XRP is a Security

Stuart Alderoty, the chief legal officer at Ripple, has expressed doubts about the validity of the Securities and Exchange Commission's (SEC) lawsuit against the cryptocurrency firm. In a tweet, Alderoty referenced a 1946 case in which the US Supreme Court ruled against the SEC. Ripple is currently contesting the SEC's claim that its XRP cryptocurrency is a security, which, if deemed true, would mean that Ripple breached securities law by not registering the token with the SEC. The outcome of the case could have significant implications for the wider cryptocurrency sector.

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