XRP’s Accidental Triumph: SEC’s Crypto Ballet Favors the Unsuspecting Ledger
In a display of taxonomic zeal, the SEC, under its Project Crypto initiative, drew a line so fine it could only be seen through the lens of legal myopia-distinguishing between a trading platform and a “pure interface layer.” The latter, it seems, is a creature of such passivity that it merely allows users to prepare and submit transactions from their self-custodial wallets, provided it abstains from the sins of holding funds, routing orders, or whispering investment advice. A fixed fee, they insist, and full user control over transaction parameters are the sacraments of this regulatory absolution.







