Ripple partner I-Remit explains to the SEC why XRP is not a security in its brief to the court ripple xrparmy xrpsec xrpcommunity $xrp
is not a security, argues that such an accusation is the result of a poor understanding of modern digital technology. Moreover, I-Remit then addresses the SEC directly, stating that their actions in this process seem to be an attempt to misinterpret important aspects and principles of cryptocurrency and blockchain and to impose their regulatory action on areas that have nothing to do with their traditional fields of operation.
Further appealing to the court, the company, which not too long ago announced it was establishing a partnership with , said that as an active user of XRP, it never saw the cryptocurrency as an investment, but as a tool for fast, efficient cross-border transfers.I-Remit cites a deep interest in the outcome of the process as the reason for its surprise announcement. Founded in 2001, the Philippines-based company uses RippleNet technology and is one ofThe two companies recently deepened their partnership when I-Remit was allowed to apply ODL for treasury payments.