XRP is not a Security, says Ripple Executive

Ripple’s chief market strategist stressed that the startups’ native token XRP does not qualify as a security, despite recent speculation surrounding its regulatory status.

Clarifying ambiguities regarding the status of their native XRP cryptocurrency, fintech startup Ripple confirmed that the token cannot be classified as a security.

Debates have arisen about whether cryptocurrencies classify as securities as per the rules of the United States Securities and Exchange Commission (SEC), which has also warned cryptocurrency exchanges to refrain from listing unregistered tokens. While Bitcoin and Ethereum are generally not categorized as securities, Ripple has recently been the target of increased scrutiny, with many arguing that the token might possibly qualify as a security.

However, Ripple maintains that XRP does not fit into the category of securities. In an interview with CNBC, Ripple’s chief market strategist, Cory Johnson, stated:

“We absolutely are not a security. We don't meet the standards for what a security is based on the history of court law.”

The statement comes after speculation arose regarding the possibility of Ripple being listed on crypto exchange Coinbase (which currently only lists Bitcoin, Ethereum, Litecoin and Bitcoin Cash).

Rumors regarding the possible listing have