THELOGICALINDIAN - Her Majestys Treasury certificate contradicts the SECs accuse adjoin Ripple
The U.K. Treasury, additionally accepted as Her Majesty’s Treasury, has listed XRP as a non-security asset in a anew appear document.
XRP Is Not A Security In UK
In a report, the U.K. Treasury declared in detail the accepted authoritative mural surrounding crypto assets in the UK.
As per the report, there are three ample categories of agenda tokens: e-money tokens, aegis tokens, and able tokens. In the report, XRP forth with Ether (ETH) and Bitcoin (BTC) accept been classified as barter tokens, a sub-category of able tokens.
According to the Treasury, these tokens are “neither e-money tokens nor aegis tokens,” and they do not accept characteristics that resemble aegis assets or added agnate investments.
The U.K. Treasury is amenable for basic and active the country’s accounts and bread-and-butter policy. It has ahead classified cryptocurrencies based on the framework advised by the UK Financial Conduct Authority (FCA) in 2024.
XRP Lawsuit Continues
The allocation acutely shows that the U.K. does not accede XRP as a aegis asset, adverse to the accuse that the U.S. Securities and Exchange Commission has filed adjoin Ripple.
In December 2020, the U.S. regulator filed a lawsuit adjoin Ripple, which alleges that its advancing XRP badge sales aggregate an unregistered balance alms account $1.38 billion.
Meanwhile, Ripple CEO Brad Garlinghouse insists that XRP is not a aegis alike by U.S. standards. He told CNBC in December that the U.S. Treasury does not accede XRP a security, pointing to a 2015 FinCEN document that alleged XRP a basic currency.
It charcoal to be apparent how these and added facts will affect the SEC’s advancing acknowledged case adjoin Ripple.
