Crypto Ratings Council (CRC) awarded XRP a four on the scale of five – the highest value indicating that an asset is a security. It noted that Ripple, a San Francisco-based blockchain remittance company, sold XRP tokens or token interests before the existence of its utility. Moreover, Ripple marketed XRP, a move which suggested that the firm showcased the asset for its long-term investment opportunities.
Ripple, summarized CRC, used a securities-like language when it came to promoting XRP. Nevertheless, the asset’s development and usage remained decentralized.
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