Ripple’s Chief Legal Officer, Stuart Alderoty, recently disputed the critics who argued that the SEC never defined XRP as security. To demonstrate his statement, the Ripple CLO gracefully shared a document, outlining that the agency’s complaint against Ripple depicted the XRP as an investment contract. While, the judge invalidated jurisdictions proclaimed by the SEC, further pro-XRP attorneys excitedly echoed Alderoty’s message to ‘read the SEC claim’. For example, Jeremy Hogan, a pro-XRP lawyer brightened the Ripple CLO credibility by producing a file, claiming that the Nature of XRP equals to security, endorsed by the SEC. However, the verdict confined and refuted SEC narrative of labeling the coin as security. Associate Alex Preukschat acclaimed the remarkable claim by Gracefully noting that SEC, mentioned in its submissions to deign that Indeed XRP alone accredits it as the Investment contract during its 7 year period of securities offering. To bring down argumentative escapades, Alderoty chided Miles Jennings, General counsel at a16z crypto, for proposing propiterary defends towards SEC submissions prior to acknoledginr that indeed during offering, it was tagged as investment contract.
