US Cryptocurency Exchanges Consider XRP A Security

US cryptocurrency exchanges consider XRP to be a security as per the Crypto Ratings Council which awarded the cryptocurrency a four on the scale of five indicating that the asset is a security. According to the ripple news, the San Francisco-based blockchain remittance company sold their XRP tokens or interests before the existence of the utility.

Ripple marketed XRP which suggested that the company showcased how the assets’ long-term investment opportunities can play out. The Crypto Ratings Council explained:

 “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.”

The CRC backed by the regulated US cryptocurrency exchanges such as Coinbase, Kraken and Circle put XRP through the securities standards which were established by the Security and Exchange Commission including the ‘’Framework for investment contract of digital assets.’’ The council tested the native asset of Ripple against the statements made by the SEC officials eventually ruling out that it could be a security.
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According to the Wall Street Journal, the US cryptocurrency exchanges want to understand which tokens they should not list on their platforms. The exchanges admitted that they could go wrong with the ways they analyze cryptocurrencies and with that said, the companies that belief in the tokens’ score could dispute them. The general counsel at Kraken Mary Beth Buchanan stated:

 “It’s our hope the SEC will view this as a positive step and that the SEC will seeeach exchange is doing to come to a decision.”

Ripple, on the other hand, is trying to win the legal battle with its investors who have accused the company of selling them unregistered securities as the CEO Brad Garlinghouse denied that the accusations are untrue and that XRP exists outside Ripple which developed a technology that uses the asset for only conducting cross-border payments. As per the cryptocurrency news, the SEC feels the opposite as the US regulator might want to know whether or not a third-party is the reason behind the investors’ expectation for profitable returns. The exchanges, on the other hand, are under a regulatory burden and only list assets that are decentralized or approved securities.