The U.S. Securities and Exchange Commission (SEC) claimed in its lawsuit against Ripple Labs that “economic reality dictates that XRP purchasers have no choice but to rely on Ripple’s efforts for the success or failure of their investment” and that XRP has “no non-investment contract utility” that is unrelated to Ripple as a company.
Jay Kambo, the CEO and Founder of the SpendTheBits payments app begs to differ, and he explains to CryptoLawTV Host John Deaton exactly why the SEC is dead wrong. SpendTheBits is a payment app that settles Bitcoin transactions on the XRP Ledger by using XRP and has no connection at all to Ripple.
All content, including text, graphics, images and information, in this video is for informational purposes only and not intended or implied to be a substitute for professional financial, investment or legal advice of any kind. You should consult a financial expert or lawyer for advice and take no action or decide not to act in reliance on the content of this video.
This Episode’s Guest: Jay Jaskaran Kambo, Founder & CEO, SpendTheBits
On Twitter: https://twitter.com/Jay_SpendDBits or https://twitter.com/Spend_The_Bits
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