XRP Removed From Important List: Pro-Ripple Lawyer Comments
While XRP’s price is performing relatively well throughout the past week, adding over 6% to its dollar value, the cryptocurrency has been removed from an important list.
On Monday, the New York Department of Financial Services announced that it’s taking an update to its virtual currency oversight framework. The entity included new criteria for how digital firms licensed by the agency can list various cryptocurrencies.
As part of this change, the Department of Financial Services removed a number of tokens that were previously part of its “greenlist.” These included, but are not limited to, Ripple’s XRP, Litecoin, and Dogecoin.
There are currently only eight tokens on that list, including Bitcoin, Ether, and the relatively new PayPal stablecoin.
According to the official website of the NYDFS, the Greenlist is described as it follows:
The Department makes available on its website a Greenlist that identifies the coins the Department has approved for VC Entities to custody or list without first establishing an approved coin-listing policy or otherwise seeking prior approval.
It appears there’s little to no reason to worry. Commenting on the matter was the popular pro-Ripple attorney, John E. Deaton, who said:
After it was determined NOT to be a security. It’s not even a security if Ripple sells it on exchanges. Yea, this move isn’t political or punitive in nature.
Deaton is referring to a ruling of Judge Analisa Torres, who recently said that secondary XRP sales do not constitute investment contracts. You can find more details about it in our video: