XRP, the native digital asset of Ripple, has been officially removed from the latest list of SEC securities on CoinGecko.
The news was met with enthusiasm by the cryptocurrency community, particularly by prominent pro-XRP lawyer John Deaton.
This development marks a notable milestone in Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), shedding light on the evolving landscape of crypto regulations.
Expressing his excitement, John Deaton took to Twitter, humorously emphasizing the change in XRP’s status: “Today: Not on the list: XRP.”
He compared this moment to three years ago, when the SEC claimed that Ripple had sold over 14.6 billion units of digital assets as “security.”
This shift in classification underscores the complexities of the regulatory framework surrounding cryptocurrencies.
CoinGecko, a prominent crypto price tracking platform, recently published a list of tokens identified as securities by the SEC.
This list includes 48 tokens, such as BNB, ADA, SOL, TRX, MATIC, TON, BUSD, ATOM, FIL, ICP, NEAR, ALGO, SAND, AXS, MANA, FLOW, CHZ, and BTT. The removal of XRP from this list signifies a significant moment for Ripple and its legal battle.
Ripple’s CTO, David “JoelKatz” Schwartz, embraced the change with a touch of humor. He highlighted the absurdity of the situation by playfully listing unrelated items, including “Orange groves,” “Live beavers,” and “Warehouse receipts for whisky casks,” along with the now-excluded XRP. This lighthearted response reflects the broader sentiment within the community.
Deaton’s revelation that senior SEC officials were divided on the case outcome has fueled speculation among legal experts and crypto lawyers.
The future actions of the SEC and the possibility of an appeal remain topics of interest and discussion within the industry.
Advocate James Murphy suggested that the SEC might pursue an interlocutory appeal in the ongoing case. Meanwhile, PolySign CEO Jack McDonald proposed a strategic perspective, suggesting that the SEC could attempt to contain the implications of the case by limiting its scope solely to XRP, avoiding a broader impact on the crypto ecosystem.