• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

XRP is a Security, According to US Cryptocurrency Exchanges

Davit Babayan by Davit Babayan
1 year ago
in Bitcoin, Cryptocurrency news, Ripple
Reading Time: 2min read
XRP, cryptocurrency

XRP is a Security, According to US Cryptocurrency Exchanges

Advertisement
Nexo Logo
Listen to Article

XRP is almost a security, according to a council created by US’s biggest cryptocurrency exchanges.

Crypto Ratings Council (CRC) awarded XRP a four on the scale of five – the highest value indicating that an asset is a security. It noted that Ripple, a San Francisco-based blockchain remittance company, sold XRP tokens or token interests before the existence of its utility. Moreover, Ripple marketed XRP, a move which suggested that the firm showcased the asset for its long-term investment opportunities.

Ripple, summarized CRC, used a securities-like language when it came to promoting XRP. Nevertheless, the asset’s development and usage remained decentralized. The council reminded:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“The score does not reflect a legal conclusion and is no indication of the qualitative value of an asset or suitability for investment or any other purpose.”

CRC, backed by regulated US cryptocurrency exchanges, including Circle, Coinbase, and Kraken, put XRP through the securities standards established by the Security and Exchange Commission (SEC), including its “Framework for Investment Contract of Digital Assets.” The council also tested Ripple’s native asset against the statements made by the SEC officials, eventually ruling out that it could be security.

Eviction

According to the Wall Street Journal, the US cryptocurrency exchanges want to understand which tokens they should or should not list on their trading platforms. The need has prompted them to unite in the form of CRC, a council which would study and categorize cryptocurrencies per their securities’ status. Exchanges admitted that they could go wrong with the ways they analyze cryptocurrencies. That said, firms that believe their token’s score is wrong could dispute with it.

“It’s our hope the SEC will view this as a positive step,” said Mary Beth Buchanan, the general counsel at Kraken, adding that their report shows “the SEC what each exchange is doing to come to a decision.”

Ripple, on the other hand, is fighting a legal battle with its investors who have accused the company of selling them “unregistered securities.” CEO Brad Garlinghouse, nevertheless, denied the accusations, stating that XRP exists outside Ripple, which has merely developed a technology that uses the asset for conducting cross-border payments.

The SEC may feel the opposite. The US regulator might want to know whether or not a third-party is driving investors’ expectation for a profitable return. That is what William Hinman, director of the corporate finance division at the SEC, said in a speech last year. For most of the XRP investors, Ripple would make banks and big financial firms use the asset. That is why they hold or speculate on XRP.

https://twitter.com/XrpCenter/status/1178646840184639494

Exchanges, on the other hand, are under a regulatory burden to only list assets that either decentralized or approved securities. That puts XRP in their list of evictable assets unless the SEC decides to call the asset a utility token.

Other Cryptocurrency Scores

Apart from XRP, CRC awarded higher securities’ score to EOS, Maker, Polymath, Stellar, Tezos, and others. On the other hand, the council gave Bitcoin, Dai, Litecoin, and Monero a one.

Tags: bitcoinxrp
TweetShare121
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Related Posts

bitcoin dark web monero

Why The Dark Net’s Most Active Market Ditched Bitcoin For Monero

1 day ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Reclaims $40,000 as Powell Rubbishes Taper Tantrum Woes

1 day ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Logs Revenge Recovery as Lagarde Calls for Global Regulation

2 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Flickers Near $35,000 as Bond Yields Drop; A Detailed Outlook

3 days ago
bitcoin bar new york

Landmark Real Estate Listing Offers Two New York Bars For 25 Bitcoin

3 days ago
huobi, ruble

Huobi Now Supports RUB Deposits and Withdrawals, Announces Crypto Purchase Campaign

4 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Kickoff Your DeFi Journey With YOYO FINANCE – Their Token Sale Is Live

January 14, 2021

RAI Finance Pre-sale Finishes in 1 Minute

January 13, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.