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.
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