The SEC’s stance on the XRP token and its position in the market has been a topic of conversation recently, after a memo from 2018 sparked a new wave of discussion. Attorney John Deaton has provided insight into why SEC enforcement lawyers are holding back from providing clarity on Ripple’s position in the market.The memo did not explicitly state that the XRP token was or wasn’t a security, and as of June 13, 2018, it did not contain any concluding statements on the XRP’s classification in the cryptocurrency market. Deaton argues that the SEC cannot possibly charge Ripple execs for facilitating the sale of XRP as a security when the SEC itself could not conclude on XRP’s position in the market back in 2018.The U.S. Securities and Exchange Commission recently stated, in a motion to the Supreme Court Judge, Analisa Torres, that the XRP token has no intrinsic value. Deaton’s posts come shortly after this statement, and he makes a strong case for Ripple executives, as he explains that the SEC cannot possibly charge Ripple execs for facilitating the sale of XRP as a security when the SEC itself could not conclude on XRP’s position in the market back in 2018.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	Bill Morgan, Brad Garlinghouse, Chris Larsens, Analisa Torres, John Deaton
Companies	Ripple, SEC, eToro, U.S. Securities and Exchange Commission, FINRA
Currencies	Ethereum, XRP, PayPal USD, Bitcoin, FIRA
Securities	None