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Ripple struggles to buy U.S. listing for a popular coin

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58 minutes ago, flanman said:

I'm concerned that the SEC refused to comment on Ripple.

From my understanding, the Ripple team has multiple executives working with government officials on regulation itself and on educating those individuals and governmental departments. So maybe it's a plus that the SEC has remained quiet on Ripple. XRP has clearly not been marketed as a security. You don't have to use it but you can use it to reduce operational costs - from this standpoint it acts as a digital tool rather than a digital security. They have never said buy XRP because the price will go up - they have been very very careful about that. 

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54 minutes ago, Mpolnet said:

From my understanding, the Ripple team has multiple executives working with government officials on regulation itself and on educating those individuals and governmental departments. So maybe it's a plus that the SEC has remained quiet on Ripple. XRP has clearly not been marketed as a security. You don't have to use it but you can use it to reduce operational costs - from this standpoint it acts as a digital tool rather than a digital security. They have never said buy XRP because the price will go up - they have been very very careful about that. 

Good points. 

I thought this steemit article had some good information on the likelihood of any particular crypto being classified as a "security." Its older, but still relevant. 

https://steemit.com/cryptocurrency/@basiccrypto/which-cryptocurrencies-will-be-regulated-by-the-sec-cftc

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I would think the SEC would struggle to classify XRP as a security given Cuallix has already moved head with Cuallet to use xRapid and XRP for settlement purposes.  Has a security ever been used in such a way?  I don't see any precedent for the SEC to make a decision like that in the future.  If anything I expect more scrutiny to fall on the digital assets claiming through marketing to be an actual currency vs. a digital asset that can be exchanged as such but is not marketed as one.

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XRP is not a security, Ripple is a company whose growth was built on investments by funds not associated with crypto, XRP is an asset they hold and has little to do with their future income stream, they sell software that can use the ILP, XRPL and that is all.

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The title of this bloomberg article is pretty awful, and follows the pattern of click bait crypto "journalism": "Ripple struggles to buy U.S. listing for a popular coin"

It is even causing problems on xrpchat leading to duplicate posts. shame on you bloomberg

 

edit: I just looked and I see that they changed the title of their article. still, mistakes were made : ( 

(and the new title isn't a whole lot better)

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There's clear incentive for Ripple to do so - their use-case requires liquidity and if they have to invest in order to get that liquidity than so be it. A GDAX listing would do wonders for Ripple since institutions would have access to another regulated exchange with XRP/USD, XRP/EUR and XRP/GBP pairings. 

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^^I wonder if Bloomberg gave Ripple the courtesy of letting them know and asking for comment  prior to the publication of that article. Such courtesy is often shown in journalism covering  US politics. Nonetheless, I would assume Team Ripple is focused on crafting and sending a proper retort/response.

Edited by JTxrPP

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