Binance CEO Claims "XRP (Ripple) Is Not a Security" and Also Launches Data Site Focused on XRP
Known as the world's largest cryptocurrency exchangeBinance, CEO Changpeng Zhao (Jao Chang-pong, hereafter CZ) has for the first time commented on the securities status of the cryptocurrency XRP (Ripple), which has long been a topic of discussion.
Conversation between renowned journalist Joseph Young and CZ
On December 12, 2018, Japan time, Joseph Young, a well-known journalist covering cryptocurrency and finance (fintech, etc.), expressed dissatisfaction on his Twitter that Coinbase has still not listed XRP (Ripple).
The following is the exchange between Joseph Young and CZ on Twitter.
Coinbase has listed all other cryptocurrencies except XRP.
Assets at or above a certain level, akin to those in the stock market, are listed, but XRP is not.
In reality, the verdict of a federal appellate court is highly likely to bind XRP.
The XRP lawsuit may take years.
If XRP is ruled to be a security, it could affect not only American users but users worldwide.
Personally,I think XRP is not a security.
Ripple's legal team (defense) voluntarily brought the case to federal court.
Therefore, they (Ripple's defense team)will win the lawsuit, I am confident.
The court case may take years. But if XRP is ruled as a security, it would seriously hurt a lot of US users, and to a certain extent, other users around the world too. It certainly doesn't look like a security to me, but that's just one person's opinion.
Image source: Twitter
History of the XRP (Ripple) securities issue
In June 2018, Ripple faced a class-action lawsuit from XRP investors alleging that XRP should be registered as a security.Claimis being made.
The lawsuit naming Ripple as a defendant was brought in the Superior Court of California, San Mateo County.
However, on November 7, the notice of transfer of the case disclosed by the defense team argues that Peter Morrison asserts there is room to move the case to a different venue for the following reasons.Claim“This is a global litigation issue, and cannot be judged by statutes of a specific region alone.”
“A class action is ordinarily transferred to a federal court with proper jurisdiction when the following conditions apply.”
- “A group lawsuit” with more than 100 members
- If all members of the plaintiff class belong to different countries from the defendants
- If the litigation involves more than $5 million (about 570 million yen) in a particular claim
“This case meets all three of the above conditions.”
XRP (Ripple) price information site launched
Amid ongoing confusion over the litigation, a specialized information site for XRPRipplehas been newly launched.
Hello everyone!
After weeks of work, we are able to offer you the first independent XRP price tracking platform in real time!xrpcommunity.pw
We hope you enjoy the tool. And above all, talk about it around you!
Thanks to the#XRPcommunity!#Ripple #XrpCommunity
The newly launched site is named ‘XRPCommunity Price Watcher’
Source:XRPCommunity Price Watcher
