Former SEC commissioner says XRP is a currency and not a security

A former SEC commissioner says that XRP is a currency and not a security and therefore is not in within the SEC’s jurisdiction. He sees XRP as failing the Howey test for securities as XRP is actually used for transfer of money across borders and between banks and not just a speculative investment tool. I hope they do classify XRP as a currency soon instead of a commodity, security, or property and clear up the tax regulations around XRP because they are confusing right now. Still, it is encouraging to see a former members of the SEC say that XRP is not a security and should not fall under the scrutiny of the SEC.