Jeremy Hogan, a lawyer at the legal firm Hogan & Hogan, has recently declared in a series of tweets that the digital asset known as XRP, which is owned by Ripple, is not a security since it does not meet the criteria for what is known as a “investment contract.” Hogan contends that the United States Securities and Exchange Commission (SEC) has not shown that Ripple is in violation of either an implicit or explicit investment contract in its action against the company. This is despite the fact that XRP might be regarded a security according to the definition of an investment contract.
Hogan notes that the SEC contends that the purchase agreement is all that is necessary to demonstrate that XRP is a security; nevertheless, this argument differentiates the “investment” from the “contract.” Hogan adds that the SEC contends that the purchase agreement is all that is required to demonstrate that XRP is a security. According to Hogan, a…
