In a surprising twist, President-elect Donald Trump recently extended a playful suggestion to Vice President Kamala Harris, offering to help alleviate her campaign’s $20 million debt. The exchange drew attention on social media, with one user proposing an intriguing solution: Harris could tap into her XRP holdings to cover the campaign's financial gap. This idea gained traction, especially if Ripple’s ongoing legal battle with the SEC concludes favorably, which could lead to a significant boost in XRP’s value, thereby aiding Harris’s debt management.
Former SEC attorney Marc Fagel stepped in to clarify that, as a retail investor, Harris would face no regulatory hurdles in selling her XRP. The SEC's scrutiny remains centered on Ripple, the issuer, rather than individual holders like Harris. As such, she would not need to comply with the complex securities regulations imposed on Ripple, giving her freedom to sell her XRP without concern over compliance issues.
At the core of this situation lies the debate on whether XRP transactions meet the criteria for investment contracts under the Howey Test. Since Harris isn’t an issuer, any XRP sales would not require SEC registration, easing her path to liquidate these assets if needed. Notably, Ripple co-founder Chris Larsen had previously donated more than $10 million in XRP to Harris's campaign fund, making this solution a potentially viable option for addressing her campaign’s financial shortfall.
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