XRP Defies CoinGecko’s SEC Security Token List, Ripple CTO And Lawyer Reacts
In a notable twist to the ongoing legal saga between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Ripple’s XRP has been excluded from a list of tokens labeled as securities by the SEC on CoinGecko. David Schwartz, Ripple’s CTO, responded wittily to the situation on X (Twitter), implying XRP’s omission from the list alongside a playful reference to unconventional items.
XRP Exempted from Coingecko’s SEC Token List
CoinGecko, a prominent price-tracking platform, recently unveiled a list of 48 tokens, including well-known assets like BNB, ADA, SOL, TRX, MATIC, and TON, that have been categorized as securities by the SEC. Notably absent from this list was XRP, Ripple’s native cryptocurrency, which has been at the center of a legal battle with the SEC.
The omission of XRP from the list highlights a key development in the legal landscape surrounding cryptocurrency. This move follows the recent ruling by Judge Torres, who stated unequivocally that XRP itself is not a security, contradicting the SEC’s position.
John Deaton, representing the interests of XRP holders, expressed confidence in the solidity of Judge Torres’ summary judgment decision. Deaton noted that Judge Torres has a history of maintaining her summary judgment rulings on appeal.
Addressing this situation, lawyer Bill Morgan speculated on the differentiating factors in Ripple’s sales of XRP compared to other token sales, hinting at potential implications for future SEC cases.
Also Read: Despite XRP Lawsuit Win, Why is XRP Price Not Reaching $1?
More Clarity For The Crypto Space
CoinGecko’s move to establish a dedicated category for SEC-designated securities underscores the industry’s drive to navigate regulatory intricacies and offers investors clearer insights into the evolving crypto landscape. As Ripple’s legal tussle unfolds and the industry continues to grapple with regulatory challenges, the omission of XRP from CoinGecko’s list adds another layer to the intricate crypto narrative.
This news also comes in alignment with, famous XRP lawyer, John E. Deaton warning the XRP community about potential Ripple scams on the social media network X (Twitter). Deaton’s attentive attitude highlights the necessity for community caution and highlights the incidence of false token giveaway tweets.
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