XRP Potentially Not Included In Securities Crypto Category
XRP, a cryptocurrency published by Ripple. (Photo; Doc. Teknobu)

JAKARTA The US Securities and Exchange Commission (SEC) feud with Ripple has found a bright spot. Not long ago, well-known attorney John Deaton found evidence of internal email from the SEC regarding the status of XRP, a coin published by Ripple.

Previously, the SEC accused Ripple of selling unregistered securities cryptocurrencies, namely XRP. Ripple rejected the allegations, and said XRP was not included in the securities category. The SEC vs Ripple trial took a long time, more than 2 years.

Deaton considered that the email proved that XRP cannot be categorized as a securities coin. Because XRP does not meet Howey (Howey Test) test criteria, the standard securities asset categorization. Therefore, XRP status as a securities can be revoked. That means it can give a positive influence on XRP coins because they cannot be classified as securities.

The email findings, referred to as Exhibit 220, seem to argue that there is a plausible reason to consider that XRP does not meet all of Howey's factors, a test used to determine whether certain transactions qualify as investment contracts.

This surprised Deaton, who admitted that he initially missed the details on the record despite having read thousands of pages of legal documents related to the case.

According to a U.Today report, John Deaton said it appeared that this important detail was missed due to the placement of an email satay in conjunction with a sentence discussing the analysis sent to the SEC by independent market participants. The analyses conclude that XRP is not a security, thus diverting attention from email sites that immediately follow suit.

Deaton also raised an interesting question as to why Ripple's lawyers didn't create a bigger problem with this information if it was a statement from a senior SEC official. He speculated that the quote might not be a direct statement from SEC officials, but SEC officials referring to other people's analysis of XRP in an email with Hinman, a former SEC official.


The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)