{"id":139462,"date":"2020-12-22T20:46:11","date_gmt":"2020-12-22T17:46:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dont-expect-coin-center-to-stick-up-for-xrp-in-the-face-of-the-sec\/"},"modified":"2020-12-22T20:46:11","modified_gmt":"2020-12-22T17:46:11","slug":"dont-expect-coin-center-to-stick-up-for-xrp-in-the-face-of-the-sec","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dont-expect-coin-center-to-stick-up-for-xrp-in-the-face-of-the-sec\/","title":{"rendered":"# Don&#8217;t expect Coin Center to stick up for XRP in the face of the SEC"},"content":{"rendered":"<p>&#8220;<strong># Don&#8217;t expect Coin Center to stick up for XRP in the face of the SEC <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTIvNjkzNWExMDktMGE2Ny00MGJlLWI2ZjItNDJiYmE3NGE5YWNjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>In its coming fight against the Securities and Exchange Commission, Ripple won&#8217;t see support from some of the mainstays of the crypto lobby. Jerry Brito, the executive director of Coin Center, made it clear on Tuesday that his organization won\u2019t put up any resistance to the notion that XRP is a security. <\/p>\n<p>In response to a question about Coin Center&#8217;s work to keep XRP from the SEC&#8217;s purview, Brito posted two articles where Coin Center argues why Bitcoin and Ethereum aren\u2019t securities before pointing to the absence of such a post for Ripple:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Here is a post where we argue Bitcoin is not a security:<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/RA3Ka4Mu6m\">https:\/\/t.co\/RA3Ka4Mu6m<\/a><\/p>\n<p>Here is a post where we argue Ethereum is not a security:<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/GTxWe4ppjQ\">https:\/\/t.co\/GTxWe4ppjQ<\/a><\/p>\n<p>You won&#8217;t find a similar post for Ripple. We have nothing to say about it.<\/p>\n<p>\u2014 Jerry Brito (@jerrybrito) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jerrybrito\/status\/1341401277499121674?ref_src=twsrc%5Etfw\">December 22, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Coin Center is a nonprofit advocacy and research group supporting the development of crypto-friendly public policy. The organization began its Bitcoin-related advocacy work in 2014. <\/p>\n<p>Ripple has been battling the SEC for years over whether XRP is a security that should fall under the purview of the federal securities regulator. Although Ripple has tried to distinguish itself from XRP, it holds more than half of the total token supply. Many argue that XRP\u00a0meets the Howey Test, which considers securities to be any type of investment where profits depend on the work of a third-party. <\/p>\n<p>The SEC\u2019s pending lawsuit against Ripple was announced by CEO Brad Garlinghouse, who took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> late Monday to gauge public opinion. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today, the SEC voted to attack crypto. Chairman Jay Clayton &#8211; in his final act &#8211; is picking winners and trying to limit US innovation in the crypto industry to BTC and ETH. (1\/3) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/r9bgT9Pcuu\">https:\/\/t.co\/r9bgT9Pcuu<\/a><\/p>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1341193536780214273?ref_src=twsrc%5Etfw\">December 22, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The price of XRP has been in freefall since Garlinghouse decided to make the alleged lawsuit public. The third-largest cryptocurrency by market cap plunged below $0.50, recording a double-digit percentage drop. <\/p>\n<p>According to Garlinghouse, a securities designation by the SEC isn\u2019t the end of the world for Ripple or XRP. He told the <em>Pomp Podcast <\/em>last month that \u201cmore than 90% of RippleNet customers are outside of the United States.\u201d<\/p>\n<p>Nevertheless, such a designation would require that U.S-based investors complete broker-dealer registeration with the SEC in order to hold XRP, which is a possible hindrance to adoption.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/don-t-expect-coin-center-to-stick-up-for-xrp-in-the-face-of-the-sec\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Don&#8217;t expect Coin Center to stick up for XRP in the face of the SEC &#8221; In its coming fight against the Securities and Exchange Commission, Ripple won&#8217;t see support from some of the mainstays of the crypto lobby. Jerry Brito, the executive director of Coin Center, made it clear on Tuesday that his&#8230;<\/p>\n","protected":false},"author":1,"featured_media":139463,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/6935a109-0a67-40be-b6f2-42bba74a9acc.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75034,74898,75557],"class_list":["post-139462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ripple","tag-sec","tag-xrp"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/139462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=139462"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/139462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/139463"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=139462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=139462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=139462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}