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UK Regulator Does Not Classify XRP As Securities

13 January 2021 17:00, UTC
UK Regulator Does Not Classify XRP As Securities
By Anna Martynova

In its report, the UK Treasury detailed the current regulatory environment around crypto assets in the UK. According to the report, there are three broad categories of digital tokens: e-money tokens, security tokens, and unregulated tokens.

In the report, XRP along with Ethereum (ETH) and Bitcoin (BTC) were classified as exchange tokens, a subcategory of unregulated tokens. According to the Treasury, these tokens are neither e-money tokens nor security tokens, nor do they have the characteristics of securities or other similar assets.

Previously, the Treasury classified cryptocurrencies based on a structure developed by the UK Financial Conduct Authority (FCA). The classification clearly shows that the UK does not consider XRP to be a valuable asset, contrary to accusations made by the US Securities and Exchange Commission against Ripple.

Image: Ripple Coin News



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