Former CFTC Chair Christopher Giancarlo feels it has been proven after Ripple’s overwhelming victory over the Securities and Exchange Commission (SEC).
“I actually called the XRP ledger when I saw it, and you know, so do the law,” he said on social media.
Giancarlo, known friendly as “Crypto Dad,” said XRP was not safe all the way back in 2020. A paper co-authored by merchandise lawyer Conrad Bahlke argued that ripple-linked tokens must be classified as currency.
This was a few months before the SEC sued Ripple, accusing the company of violating securities laws.
However, Giancarlo’s rating was rejected by many as his company provided advice to Ripple. Furthermore, the report relied on the information provided by the company itself.
After a tough, legal battle, the SEC has now agreed to withdraw its appeal.
Ripple’s Chief Legal Officer Stuart Aldeoty thanked Giancarlo for standing by Ripple.
“Five years ago, a lot of people were cheering us on, and even the people who stood by us chose to do so quietly. You were as clever and brave as you saw it.
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