Shinsei Bank Gives XRP Crypto Gifts To Users

XRP cryptocurrency was given as a gift by a bank in Japan. (CryptoCoinSpy)

JAKARTA – In the midst of Ripple's feud with the US Securities and Exchange Commission (SEC), one of the Japanese banks, Shinsei Bank, is giving XRP crypto gifts to its new customers. As you know, XRP is Ripple's main token.

The bank released a new program in order to reward its customers, both new and old customers with certain conditions. Shinsei bank users will give gift coupons to users who deposit yen.

The plan is that the prize will be in the form of Ripple (XRP) or Bitcoin (BTC) crypto currency. The prize program will last until October 31, 2022. This caught the attention of lawyer and Ripple supporter, John E Deaton.

As is known, Ripple's feud with the SEC is still ongoing since it started at the end of 2020. The lawyer gave an ironic view of XRP's treatment outside the United States and at home.

As reported by Coingape, Deaton said someone should tell the director of the SEC's Enforcement Division that a bank in Japan is dealing with illegal securities.

The director of the SEC's Enforcement Division in question is Gurbir Grewal. He has testified that the SEC has nothing to do with selective enforcement of regulations. While the SEC itself and its lawyers insist on including XRP in the category of securities, for no good reason.

Deaton said the Japan-based bank is offering Bitcoin and XRP rewards to their customers. However, he questioned why banks would equate BTC with XRP. While he jokingly said that this bank knew the SEC and its statements regarding XRP.

Furthermore, Deaton also mentioned that a bank in Australia also did the same thing with Shinsei Bank. Accordingly, Deaton judged there was something the SEC did not know while other regulators knew. However, he did not explain in more detail regarding this matter.

For information, John Deaton is the founder of CryptoLaw, which was launched in 2021. According to the official website, crypto-law.us, CryptoLaw is intended to be a center for information, news, and analysis on major US legal and regulatory developments for digital asset holders.

As of writing, XRP price is trading at IDR 5,596 as of 9:41 PM WIB, August 13, 2022. In the last 24 hours, XRP price movement has increased by 2.1%, according to Coingecko data. XRP once broke its all-time high price on January 7 2018, at the level of Rp45,650.