Vet, an XRPL validator, has rebutted persistent misconceptions that XRP is a US-based cryptocurrency, elaborating on its neutral status.
XRP's Architecture: Borderless by Design
Vet highlights that XRP has a unique architecture, fundamentally different from most digital assets. XRP was fully issued in 2012 and does not rely on any central authority, government, or corporate entity, meaning it is not subject to any country's regulatory oversight, including the United States.
Legal Context: Ripple Case and Global Adoption
Vet's comments come at a pivotal time in XRP's legal narrative. In 2020, the U.S. Securities and Exchange Commission sued Ripple, alleging unregistered securities sales through XRP. However, in July 2023, Judge Analisa Torres ruled that XRP is not a security when sold on exchanges or in programmatic sales.
XRP Exists Beyond Borders
Vet’s assertion serves as a reminder that XRP is designed to serve the world, not operate within the confines of any specific legal regime. Its neutrality, lack of counterparty risk, and decentralized nature allow it to be a digital asset without allegiance or limitations.
While Ripple remains a key player in the XRP ecosystem, XRP itself is not a U.S. product; it is a borderless, jurisdiction-free tool for global finance.
