Interesting XRP Comment From SEC Lawyer

Jorge Tenreiro, representing the SEC, said XRP could not be compared to Bitcoin and Ethereum in any way.

Interesting XRP comment came from SEC lawyer. As the SEC-Ripple case continues, senior lawyer Jorge Tenreiro, who represented the SEC yesterday, took the floor and stated that XRP could not be compared to Bitcoin and Ethereum in any way. Responding to legal advisor to Ripple CEO Brad Garlinghouse, Matthew Solomon's claim of Bitcoin and Ethereum, Tenreiro said: “Mr. Solomon wants to say,"We are not different from Bitcoin and Ethereum." As Ripple's own lawyers have told you, you are not the same as Bitcoin. Because you are an institution that creates this entity. At the core of the subject, these are different issues.” Senior attorney Tenreiro also questioned the uses of XRP, stating that even the uses Ripple created for the token have definitely proven that it is a security. “We are even discussing whether the usage area really exists. However, the issue here, even if the fact that there is such a field of use created by Ripple and the defense for XRP makes XRP a security. " During the presentation of Ripple's legal advisor Solomon, Netburn, the judge of the case, asked if there was a space where XRP was separated from Bitcoin and Ethereum. The question posed by the judge to Solomon was as follows: “It may not be relevant, but it is important to understand. As I understand it, it's not just money that makes XRP valuable. It also has areas of use, and this separates it from Bitcoin and Ethereum. Is this true?" As it is known, SEC does not see BTC and ETH as securities. SEC's attorney Tenreiro also stated that every XRP sale by Ripple executives constitutes a violation of Article 5. These reasons noted that they wanted to know the full scope of sales. When Judge Netburn asked a question about this issue, Tenreiro pointed out that individuals who sell XRP are not involved in this situation and said: “Given the basics, the SEC has to reach and identify all of the sales that have taken place. We do not have to trust the word.” Tenreiro also noted that Ripple CEO Brad Garlinghouse is trying to hide some XRP sales, and they have obtained evidence that he has been quite successful in this. "We also found that Ripple company, Garlinghouse, and another institution where XRP was sold, transferred XRP to one of the market makers in a complex way, and we obtained evidence of this."