Ripple CTO Weighs In on Upcoming Ruling in SEC Lawsuit, Says XRP Fits the Definition of a ‘Commodity’

Ripple CTO Weighs In on Upcoming Ruling in SEC Lawsuit, Says XRP Fits the Definition of a ‘Commodity’


Ripple’s chief technology officer David Schwartz says the company’s XRP token is a “commodity” despite an ongoing legal dispute over its status.

Schwartz claims XRP fits into the definition of a commodity under US federal finance rules ahead of a possible legal ruling this year on whether the token was illegally traded as an unregistered security.

“XRP is a raw good that trades in commerce and one XRP is treated as equivalent to every other XRP. That’s pretty much the definition of a ‘commodity.’ No part of XRP’s value comes from anyone else’s legal obligations to XRP holders.”

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The U.S. Securities and Exchange Commission (SEC) has sued Ripple alleging XRP is a security.

Schwartz also states the government is inconsistent in its characterization of

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