Ripple CTO Slams Claim That XRP Is a Security by IMF Crypto Classification
Ripple Chief Technology Officer David Schwartz has criticized suggestions that XRP is a security according to the IMF’s definition of a utility token.
Last week, the International Monetary Fund (IMF) released the first update to its Balance of Payments and International Investment Manual since 2009, with the framework now including cryptocurrencies.
While this update highlights the growing recognition of cryptocurrencies, the IMF’s classification of these assets has sparked debates. One such debate regarding XRP prompted a response from Ripple’s CTO, David Schwartz.
Ripple CTO Reacts to IMF’s Classification of Utility Tokens Like XRP
Schwartz has rejected suggestions that XRP qualifies as a security based on the IMF’s…
