The fate of Ripple is still a mystery as the pre-trial date approaches, on February 22.
However, former Securities and Exchange Commission (SEC) executive officer Joseph A. Hall in an interview revealed that there is a potential victory in favor of the cryptocurrency developer, XRP.
Hall in a Law360 article published last month, explains how the SEC's Howey Test is not enough to define a crypto asset as a security:
“Imagine how you want to explain what an iPhone is in a language your ancestors understood as soon as World War II ended. That's how easy it is to anticipate which digital assets are securities based on the Howey Test. ”
Citing a statement from the 27th SEC chairman William H. Donaldson in 2018, "Ethereum (ETH) may have been created as a security but later changed to a non-security", Hall stressed that XRP should receive the same treatment, although initially issues related to sales the beginning of XRP, but at this point the status of XRP itself is clear.
Recently, through an interview in the Youtube broadcast ‘Thinking Crypto’, Hall shared his opinion on the judge's views on this issue:
"Perhaps the judge will ask the SEC, 'If XRP is an issue, why now? What’s going on? ’So, the act of opening an XRP case with facts is not the best for the SEC. I think the SEC will lose. ”
Indirectly, this legal ambiguity clearly affects the development of blockchain technology in the United States (US).
At the time of writing, XRP is trading at $ 0.45 with a 16.3% jump since yesterday.
