John Deaton: New York State's exclusion of XRP from green list won't mean much

2023/09/19 14:31
This article is machine translated
Show original

“It appears to be just an arbitrary decision, not a political ruling.”

‘Pro-Ripple’ lawyer John Deaton explained that the exclusion of Ripple (XRP) from New York State’s ‘Green List’ does not have much significance.

On the 19th, the New York Department of Financial Services (NYDFS) released a green list that met exchange listing requirements along with regulatory guidelines for coin listing on exchanges in New York State on its official website. ▲Bitcoin (BTC) ▲Ethereum (ETH) ▲Gemini Dollar (GUSD) ▲PayPal USD (PYUSD) were listed on the green list, while ▲Ripple ▲Litecoin (LTC) ▲Dogecoin (DOGE) were not listed. I couldn't do it.

When Ripple was excluded from the green list, some interpreted that Ripple still could not resolve regulatory issues and that Ripple would not be able to trade in New York, the financial center of the United States. It is interpreted that New York State intentionally excluded Ripple from the green list mainly because Ripple is still in litigation with the U.S. Securities and Exchange Commission (SEC).

As if recognizing this public opinion, lawyer John Deaton directly mentioned the exclusion of Ripple from the green list.

He said, “Since the court has ruled that Ripple’s secondary market sales are not securities, Ripple cannot be classified as a security when sold through an exchange.” He added, “New York State’s decision not to list Ripple on the green list is a political decision or punishment. “It is not an action that means,” he explained.

In fact, New York State is famous for being a region that has made a big splash through its unrivaled cryptocurrency regulation guidelines. In March of this year, New York State classified Ethereum as a violation of securities laws this year, but still added Ethereum to its green list.

Attorney John Deaton's interpretation is that the list of cryptocurrencies to be listed on the green list can change at any time due to New York State's actions.

Reporter Seungwon Kwon ksw@

Related articles

link icon
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
loading indicator