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Ripple's ex-CTO says SEC labeled XRP a security, courts rejected that claim in lawsuit.

Market News
14 Jul 2026
UToday
View Source
Neutral
Ripple's ex-CTO says SEC labeled XRP a security, courts rejected that claim in lawsuit.

David Schwartz, Ripple's former CTO, disputed claims that the SEC's lawsuit focused only on XRP sales, stating the SEC repeatedly called XRP itself a security before courts rejected this. The 2020 lawsuit led to a mixed ruling where programmatic XRP sales on public exchanges were not securities transactions, but institutional sales were. This ruling was seen as a partial victory for Ripple, affirming XRP is not a security in general. The case highlights ongoing regulatory debates around cryptocurrency classification.

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