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Crypto Community Criticizes Venture Capitalist for Calling XRP a Security

Venture capitalist Jason Calacanis received criticism from members of the crypto community after suggesting that XRP is a security. Calacanis stated that Ripple could have avoided legal issues with the Securities and Exchange Commission (SEC) if it had registered with the regulator. Ripple CEO Brad Garlinghouse responded by stating that the US lacks a framework for registering digital assets and criticized Calacanis for commenting on topics he lacks knowledge about. The crypto community also expressed their disagreement with Calacanis, citing the difficulty of registering a digital asset with the SEC due to regulatory uncertainty.

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