The whole crypto industry is waiting for a watershed decision on whether XRP is a security or not.
Perhaps it is wiser to consider the implications rather than the reasons for or against it.
I. The ramifications of evaluating XRP as a security
The SEC team would be overjoyed, and this victory would provide the SEC with more ammunition to go after many additional “securities” tokens. As a result, we anticipate a faster exodus of digital assets and blockchain firms from the United States. Even OpenAI’s founder, Sam Altman, has entered the digital asset space with the introduction of his WorldCoin. And right now, Sam Altman is regarded as the go-to man for Artificial Intelligence. If XRP is deemed a security, geniuses like Altman are likely to bring their inventions elsewhere, depriving the United States of what has made it a powerhouse – technological discoveries.
II. The ramifications of classifying XRP as a NON-security
The entire crypto community would rejoice. Many Web3 creators in the United States would be relieved and more confident in continuing to spend in R&D. And, without a doubt, many tech geniuses would be inspired to continue pushing the boundaries of technological innovation in a society where the rule of law and common sense prevail.
Will the future of the United States be dependent on the SEC’s near-term imprecise and targeted prosecutions? Or will it rely on its foundation of creativity and innovation to maintain its place as a superpower in the coming decades?
