As Justin Slaughter, vice president of regulatory issues in the paradigm, the ripple-related XRP cryptocurrency was named as unregistered security alongside many other tokens in a recent lawsuit by General Oregon Deety Dan Rayfield against cryptocurrency exchange giant Coinbase.
In its statement, Coinbase argued that Oregon AG was trying to revive regulations through enforcement, accusing Rayfield of refusing to face reality and accusing the lawsuit of “unworthy.”
The classification of XRP as “crypto security” occurs despite the fact that tokens already have regulatory clarity.
It is worth noting that when a federal judge was sold to retail investors in 2023 on a public exchange, he concluded that XRP was not security.
The SEC was to remove the appeal earlier this year after former chairman Gary Gensler left.
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