Ripple gives two cents on SEC ruling, locks new set of XRP
Clarifying misconceptions
However, Ripple also addressed some misinterpretations of the judgment. According to the firm, XRP is not just security in some corners but in all areas. Accusing the SEC of being a propaganda merchant, Ripple said,
The statement that the same “thing” can be sold to buyer “A” as part of a simple buy/sell transaction and also sold to buyer “B” as part of an investment contract is a non-controversial statement of the law. What finds no basis in the law is the SEC’s propaganda to the contrary.
Consumers need protection, but not all roads lead to the SEC. If the SEC’s overreach has exposed a regulatory gap, that gap is not for a court to fill (and certainly not for the SEC to fill without legal authority).
XPR locked again
As a rule of thumb, Ripple locks XRP occasionally to ensure that market there is a balance between supply and demand in the market. In the report, Ripple also mentioned its XRP balance on the ledger, and in escrow. The report shed light on its holdings:
XRP that it currently has available in its wallets, and XRP that is subject to on-ledger escrow lockups that will be released each month over the next 42 months.
