Ripple Legal Executive is working with the SEC about the "XRP is a Security" myth

In recent months Ripple has tried to separate from cryptocurrency XRP to avoid being considered a security by the US Securities and Exchange Commission (SEC) Second Sagar Sarbhai, head of governmental and regulatory relations, APAC and Middle East of Ripple, the company is constantly engaged with the SEC to instruct them on the cases of use of XRP.

Ripple has worked hard because the SEC make a positive decision against XRP and avoid considering it a security.Also, said that the company is convinced that XRP is not a security and has shown different facts to explain that particular position.

He said that if a person investing in XRP would not receive a par in the company or any Ripple dividend. Furthermore, he explained that Ripple and XRP are different. In fact, this is something that the crypto community has marked in recent months.

XRP could be used even if Ripple stops existing. Also, since the ledger is open source, everyone involved can start working on it.

In addition, Brad Garlinghouse, CEO of Ripple, explained that XRP is completely decentralized and that the company controls only 7% of the public blockchain. Furthermore, Sarbhai said that in Thailand the XRP was authorized to be traded between six other major cryptocurrencies and was defined as "digital heritage".

Other countries such as Australia and the Philippines have categorized XRPs and other digital donkeys as commodities or cryptocurrencies, but not as security.

XRP is one of the most valuable cryptocurrencies on the market after Bitcoin (BTC) and Ethereum (ETH). At the moment, it is trading around $ 0.32 dollars and has a market capitalization of $ 12 billion.