🚨 𝗞𝗔𝗠𝗔𝗟𝗔 𝗛𝗔𝗥𝗥𝗜𝗦 𝗔𝗡𝗗 $XRP 🚀📈
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 Ripple’s cryptocurrency, XRP.
A social media user suggested that Harris could potentially sell some of her donated XRP holdings to alleviate her campaign’s 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 wouldn’t face regulatory issues if she chose to sell her XRP, as she is a retail holder, not an issuer. According to Fagel, the SEC’s 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 isn’t associated with Ripple as an issuer, her sales would be exempt from the SEC’s registration requirements.
For context, Ripple’s co-founder Chris Larsen previously contributed over $10 million in XRP to a fund supporting Harris’ campaign.