Ripple's XRP Infrastructure Token

XRP is not in and of itself a contract transaction or scheme, which is one of the requirements of the how we test. I'm just asking the question, can you go as far as saying, if you read that line, that it's not a security? That's all I'm asking. No, I don't think you can conclude that, but I think it's, I don’t think you can, butI think it's one step closer. And here's how I'm thinking about it: exchanges are a big winner, completely agree. If right, these institutional sales and OTC and direct token sales are securities,. All selling of these tokens is gonna flow

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