Attorney Bill Morgan Questions Senator Lummis on XRP Ruling After Her Remarks on Crypto Regulations

• Senator Cynthia Lummis states that most digital assets are not securities under U.S. law.
• Bill Morgan links this to Judge Torres’ ruling that XRP itself is not a security.
• Lummis’ comments highlight the debate over the SEC’s enforcement actions and the need for clearer crypto regulations.

Senator Cynthia Lummis, a known advocate for cryptocurrency legislation, recently stated on X that most digital assets are not securities under the Howey test. In response, attorney Bill Morgan asked whether she agrees with Judge Analisa Torres’ ruling in SEC v. Ripple, which found that XRP itself is not a security.

Notably, Lummis made her comments following a congressional hearing on digital assets, where lawmakers discussed the regulatory ecosystem and the U.S.’s slow progress in establishing clear guidelines. She also highlighted the role of stablecoins in modernizing payments.

Lummis’s Statement and the SEC v. Ripple Case

However, her assertion that most cryptocurrencies are not securities raised questions about the SEC’s approach to enforcement, particularly in its case against Ripple.

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