Chief strategist Ripple Foundation Corey Johnson said in an interview to CNBC April 12 that XRP is not the same securities.
After it became known that the Ripple will not be added to Coinbase, there were rumors that, from a legal point of view, this cryptocurrency actually is an analog of securities and that is why XRP is not added at the platform Coinbase. Securities, in contrast to the cryptocurrency and organisations who work with them must obey a set of rules in the United States. Moreover, if any of the cryptocurrencies will be classified as analogous securities that it has virtually no chance of getting on major American and international cryptocurrency exchanges.
In response to these rumors, Johnson said:
We are absolutely not analogous to the securities. We do not meet the standards according to which the XRP could be identified as securities.
According to Johnson Coinbase and Ripple have discussed the possibility of adding XRP, but they did not address the subject of the status of XRP:
Coinbase has never raised a question about whether the XRP security or an analogue thereof. We want to say with 100% clarity that we are not securities, or their equivalents. We do not meet the standards of the definition of securities.
Coinbase representatives told CNBC that they did not discuss the addition of Ripple, but rather discussed the General requirements to cryptocurrency that want to be listed on Coinbase.
Classification of digital assets like securities, property or currency in the USA is a complicated issue because the government has not yet developed a clear framework for the management of this niche. In an interview with Cointelegraph in March, the CEO of Ripple brad Garlinghouse said that Ripple has always sought to work with governments:
We really were set up in close cooperation with the banks and governments. Many in the cryptocurrency community are wondering: “How do we destroy the government and the banking system?”. I think that’s what distinguishes us, I do not believe that banks or the government will disappear in the near future.