Rumors have been rife regarding earlier speculation on XRP being added to Coinbase, with many suspecting that the reason it wasn’t added was because the San Francisco-based exchange regarded it as a security. Ripple’s chief marketing strategist however put these rumors to bed in his interview with CNBC saying that XRP wasn’t a security.
“We absolutely are not a security. We don’t meet the standards for what a security is based on the history of court law.”
Cory went on to reassure the Ripple community that while the talks between Ripple and Coinbase weren’t successful, it had nothing to do with XRP’s classification as a security. According to Cory, who joined Ripple as the chief marketing strategist from Bloomberg in early March, the issue never came up in the meetings between the two companies.
“Coinbase never ever raised the issue of whether or not XRP is a security in our discussions about listing XRP. We’re 100 percent clear, it’s not a security. We don’t meet the standards.”
The classification of cryptocurrencies in the US as currency, securities or property has become a heated issue over the last few months as the government seeks to come up with regulations for the industry. However, so far it hasn’t done so and the uncertainty has been anything but positive for the industry. Ripple’s XRP has especially received a lot of heat regarding its classification and Cory’s clarification will go a long way in reassuring the Ripple community.
The listing of XRP on Coinbase has been awaited for long by the Ripple community. Even though there was speculation that it was to happen, nothing concrete has come of it. Coinbase is among the biggest crypto exchanges in the world, with its popularity being particularly high in the US. It currently only lists Bitcoin, Ethereum, Litecoin and Bitcoin Cash.