An online petition has gained more than 36,000 signatures asking the United States government to recognize XRP as a currency.
According to the latest update, more than 36,000 people have signed a petition on WhiteHouse.gov asking the US government to consider XRP as a legitimate currency.
The petition, first spotted by Decrypt, was created in response to the Securities & Exchange Commission’s (SEC) massive complaint against Ripple filed at the end of last month, alleging the company had sold XRP as an unregistered security.
The petition seeks to counter the SEC’s claim by asking the federal government to intervene and evaluate XRP as a currency.
The page reads,
The Securities and Exchange Commission is tasked to protect investors in US Securities. It however, has filed frivolous action claiming the cryptocurrency, XRP, which has already been deemed a currency by FinCEN, to be a security.
The petition blames the SEC’s lawsuit for tanking the price of XRP and eroding its market capitalization from $30 billion to $10 billion. According to the post, the SEC’s actions have impacted the lives of ordinary American investors.
The petition continues,
Billions of dollars of value is being wiped from the market in rapid succession and most critically, hundreds of thousands of ordinary Americans – the very Americans that the SEC is tasked to protect – are suffering irreparable harm and damages.
The petition requires an additional 63,893 signatures by January 28 in order to generate a response from the White House.