Aside from his threats to crypto miners and his responses to perceived opponents in the cause of claiming ownership over the Bitcoin Cash Network, Craig Wright has given us a few points on why he believes Ripple is a security.
The token is one of the few top cryptocurrencies that was seeing some bullish trends over the weekend but now the token, along with the rest of the market, has sunk once again. In Wright’s opinion, XRP is an illegally unregistered security platform that should be taken down. Wright was making a reference to the recent reports made by the Security and Exchange Commission on ICOs claiming that any use case for Ethereum no longer exists.
Furthermore, Wright went onto discuss that XRP is the next target for the Securities and Exchange Commission as it will be soon labelled as a security which would make its prospectus fake with it based on the context that XRP is an unregistered token.
No, actually, it is not. I would not touch XRP, sell or buy nor will I ever.— Dr Craig S Wright (@ProfFaustus) November 18, 2018
The definition of a security is already defined by the courts. XRP is squarely in that definition.
As was reported by ZyCrypto, one user pointed out to Wright that Ripple’s title was to be decided by the SEC and made a hint towards Wright in that his tweet came off a ‘sell order’ Wright disproved this saying that he would never trade XRP at any point and that the token already fits into the perfect example of what the court would class as a security.
Wright’s tweet said:
“No, actually, it is not. I would not touch XRP, sell or buy nor will I ever. The definition of a security is already defined by the courts. XRP is squarely in that definition.”
Craig also claimed that XRP is the biggest scam in the crypto space:
“XRP is the biggest scam in the space. I look forward to when this sham offer is revoked. This idea of issuing non-registered securities and selling to noobs who want to get rich without working is nothing new and neither will be the take-down.”
What are your thoughts? Do you agree with Wright? Let us know what you think down below in the comments!