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Ripple Declares its Crypto Coin XRP is Not a Security

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Recently, Ripple made it known through one of its creators that its crypto coin XRP is not a security. Initially, this statement was made public through CNBC.

Cory Johnson, who is the head market analyst for Ripple also told CNBC that: “We absolutely are not a security. We do not meet the standard for what a security is based on the history of court law.” Besides, it is important to note that the price of the crypto-coin have answered lots of questions on whether it is going to be added to Coinbase anytime soon.

Ripple is not a security cryptocurrency” this is what one of its creators told CNBC on Wednesday in order to answer the rumors that surround the crypto-coin itself. The company has also reduced several speculations through its executive that it has not done anything to get featured on Coinbase (which is one of the most prominent crypto exchanges) yet.

It is also necessary to note that Ripple’s answers to the speculations surrounding it come in time on whether the United States securities laws relate to cryptos. In a critical response to this, the U.S Security and Exchange Commission made it known that these laws definitely relate to them and that it has also allotted orders and appeals on the data of the sales of all cryptocurrencies.

In the crypto-world today, two cryptocurrencies that are widely known are Bitcoin and Ethereum, but all in all, they aren’t regarded as securities despite their prominence. Of recent, Bitcoin cash, Ethereum and Litecoin have been featured on Coinbase (which has more than 14 million users worldwide), but it has been surmised that the addition of a new cryptocurrency to Coinbase may increase the interest of more traders.

Nevertheless, the U.S Security and Exchange Commission has also issued a warning to exchanges not to feature cryptocurrencies that haven’t been registered, and this was mentioned by Bloomberg — which points directly against Ripple XRP being listed on Coinbase.

Furthermore, it also is essential to take note that Ripple is paving ways to develop the manner in which payments are made to financial companies all over the world. XRP, which is also referred to as Ripple is the name of the cryptocurrency that its users use for daily transactions.

Ripple has been deliberating with exchanges to feature it on Coinbase, and it has never stated it was a security. “Coinbase never ever raised the issue of whether or not the XRP is a security in our discussions about listing XRP,” said Cory Johnson.

We are 100 percent clear that it is not a security. We do not meet the standards.

Coinbase on their part made it clear through its representative that they had no talks about regulation and security issues with Ripple, but only discussions of the conditions of tallying assets. Subsequently, this was revised in March last year.

Furthermore, several Coinbase representatives have refused to talk about other facts and specifics of the company’s discussion with Ripple so as to avoid further speculations.

According to CoinMarketCap.com, it has been affirmed that Ripple XRP hit a snag and declined drastically to about 56 cents (as of Thursday, April 12, 2018) after the company itself had previously hit a record of $3.84 early this year.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Brendan Wilkinson via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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