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The FCA Regulatory Agency Categorizes XRP as Utility Token and Not a Security

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Forget about the websites that give ELI5 info. You should read a full doc https://www.fca.org.uk/publication/consultation/cp19-03.pdf

and

Read the section 3 (specifically 3.31 about "exchange tokens", section 3.43 about "security tokens" and 3.51 about "utility tokens"). Clearly based on the case studies (6 in total given) XRP can never be a security. US/SEC should read this doc, issue a statement that XRP is not a security so that we can move along. This brings clarity and clarity is something that institutional investors like.

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Posted (edited)
2 hours ago, crypto_deus said:

Forget about the websites that give ELI5 info. You should read a full doc https://www.fca.org.uk/publication/consultation/cp19-03.pdf

and

Read the section 3 (specifically 3.31 about "exchange tokens", section 3.43 about "security tokens" and 3.51 about "utility tokens"). Clearly based on the case studies (6 in total given) XRP can never be a security. US/SEC should read this doc, issue a statement that XRP is not a security so that we can move along. This brings clarity and clarity is something that institutional investors like.

Some time ago I contacted SEC and asked them what their take is on the document you mentioned and they gave me a diplomatic answer (https://www.xrpchat.com/topic/32323-xrp-is-not-a-security-confirms-uk’s-financial-conduct-authority/?do=findComment&comment=742624). SEC can read all there is to read, it won't change anything. SEC and FCA work together, according to a press release FCA published earlier this year that shows it signed updated supervisory cooperation arrangements with the SEC (https://tinyurl.com/yxcw7kf3). SEC will therefore never view XRP as a security, even if they wanted to. 

Edited by Danny

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