By the time the SEC issued its DAO report, XRP had been trading in the crypto markets for several years and its creator Ripple Labs was a Silicon ...
source https://www.google.com/url?rct=j&sa=t&url=https://www.law360.com/technology/articles/1346432/ripple-token-case-highlights-need-for-sec-clarity-on-crypto-&ct=ga&cd=CAIyGjBkZWE0Yjc3NzNlM2I2MDQ6Y29tOmVuOlVT&usg=AFQjCNEUTOjFhQpsqoGJvGKFpM1FJWhFbw
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