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: