Ripple- the San Francisco-based FinTech firm, has officially responded to the U.S. Securities and Exchange Commission (SEC) allegations over the illegal sale of XRP. In a statement, Ripple claims that XRP didn’t fulfil the criteria for traditional securities regulation and denied that its original sale of the token did not constitute the SEC’s version of an “offering.” Additionally, Ripple also claimed that if XRP was deemed a security, it would hurt its utility as a means of payment.