**Ripple News: Can Kamala Harris Sell Donated XRP to Settle Campaign Debts? Legal Expert Weighs In**
In recent news from Coinpedia Fintech, a surprising proposal involving cryptocurrency and campaign finance surfaced. President-elect Donald Trump recently teased Vice President Kamala Harris about her reported $20 million campaign debt, jokingly offering to assist her financially struggling campaign. But an interesting idea emerged in the discussions—using XRP, the cryptocurrency associated with Ripple, to help settle Harris’s debts.
**Trump's Offer to Assist Harris's Campaign**
In typical fashion, Trump playfully suggested that the GOP might “do whatever we can” to help with Harris’s debt. This prompted some online users to float the idea that if Harris could sell donated XRP, it could potentially cover a significant part of her financial obligations. The theory? If the Securities and Exchange Commission (SEC) drops its legal case against Ripple, XRP’s value might rise, potentially enabling Harris to pay off her entire debt.
**The SEC Case and XRP’s Potential Role**
The suggestion of Harris selling XRP hinges on the SEC’s ongoing legal case against Ripple Labs, where the SEC claims XRP should be classified and regulated as a security. Should the SEC end its case, many speculate that XRP’s price could surge, providing Harris an opportunity to use the proceeds to reduce her campaign debt.
**Legal Analysis: Could Harris Legally Sell XRP?**
Former SEC attorney Marc Fagel recently weighed in on the matter, clarifying that XRP sales would not require SEC registration if Harris, as a retail holder, decided to sell. According to Fagel, only the issuer (Ripple) faces regulatory restrictions, while retail holders—like Harris—are free to sell XRP without registration, provided they aren’t involved in its issuance or promotion.
**Issuer vs. Retail Holder Exemption**
Fagel explained that Harris, as a non-issuer retail holder of XRP, is exempt from registration requirements under the Securities Act. The regulatory focus of the SEC case is on Ripple as the issuer, not retail holders. Therefore, Harris could potentially sell her XRP holdings without triggering SEC oversight, given that her sales would not constitute investment contracts under the Howey Test.
For context, Ripple co-founder Chris Larsen previously donated over $10 million worth of XRP to support Kamala Harris, adding another layer of intrigue to the discussion.
As XRP's regulatory status evolves, many will watch closely to see if this unusual idea gains traction.
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