๐จ ๐๐๐ ๐๐๐ ๐๐๐ฅ๐ฅ๐๐ฆ ๐๐ก๐ $XRP ๐๐
President-elect Donald Trump recently made a light-hearted jab at Vice President Kamala Harris, offering assistance with her campaign's reported $20 million debt. Amid the playful exchange, a new idea surfaced involving Rippleโs cryptocurrency, XRP.
A social media user suggested that Harris could potentially sell some of her donated XRP holdings to alleviate her campaignโs financial burden, especially if the SEC were to end its legal dispute with Ripple. If the case against XRP is dropped, the token's value might surge, possibly helping Harris cover a significant part of her debt.
Marc Fagel, a former SEC attorney, explained that Harris wouldnโt face regulatory issues if she chose to sell her XRP, as she is a retail holder, not an issuer. According to Fagel, the SECโs focus is on Ripple, the issuer of XRP, rather than individual investors. Harris, therefore, could sell her XRP without needing to comply with the strict securities regulations aimed at Ripple.
Fagel noted that the debate centers around whether XRP sales count as investment contracts under the Howey Test. Since Harris isnโt associated with Ripple as an issuer, her sales would be exempt from the SECโs registration requirements.
For context, Rippleโs co-founder Chris Larsen previously contributed over $10 million in XRP to a fund supporting Harrisโ campaign.
