XRP Currency Petition Initiated at White House Site

[MUGNIA]

Faced with losses after the Securities and Exchange Commission declared XRP to be a security, the XRP community is petitioning the US government to declare it a currency.

We the people…
On Dec. 29, a petition on the US White House web site appeared regarding the fate of the Ripple Labs token XRP. The appeal asked the government to stand by a Financial Crimes Enforcement Network (FinCEN) determination that XRP is a currency.

At the time this report was published, about 10,000 people had signed the petition. To move forward, the petition needs 90,002 signatories.

Supporters launched the petition in response to a Dec. 23 action by the Securities and Exchange Commission (SEC). The SEC charged Ripple Labs executives for selling unregistered securities (namely, XRP). Such sales totaled $1.3 billion, according to the charges.

Waves of Ripples
There are more than just charges that current CEO Christian Larsen and former CEO Brad Garlinghouse set up Ripple to sell XRP. The SEC also accuses the two of unregistered sales of XRP totaling about $600 million.

Garlinghouse announced the impending charges on Dec. 22, and staunchly defended his view that XRP was under attack for non-fundamental reasons. He pointed to the fact that Ripple had been operating on the market for eight years. Furthermore, he questioned the timing and motivation of the move. The SEC taking action in the last days of the Trump administration left the Biden administration holding the bag for the mess.


more : https://beincrypto.com/xrp-currency-petition-initiated-at-white-house-site/