|
|
XRP Is a Crypto Asset in Japan, Not a Security, Ripple Partner SBI Cla - TechAmok
XRP Is a Crypto Asset in Japan, Not a Security, Ripple Partner SBI Cla - [briefly]
02:55 PM EST - Dec,28 2020 - post a comment Not everyone is turning their backs on XRP, the embattled asset associated with San Francisco-based Ripple Labs. - Japan-based financial services company SBI Holdings released a statement Monday saying under Japanese law XRP (-3.17%) is a "cryptocurrency asset."
- The statement arrives after the U.S. Securities and Exchange Commission last week sued Ripple Labs claiming it made a $1.3 billion profit selling XRP to retail investors while failing to register the cryptocurrency as a security in the U.S.
- SBI referenced a research article by Sadakazu Osaki of the Nomura Research Institute indicating under Japanese law XRP is a "cryptocurrency asset" and it is not a security in Japan.
- CoinDesk reported in October Ripple intended to invest in SBI's MoneyTap blockchain-based payments subsidiary, which planned to used the RippleNet technology to lower Japanese transfer costs.
- Many cryptocurrency companies are backing away from XRP around the world, including Bitwise in the United States, Bitstamp in Europe and Hong Kong trading platform OSL.
- "SBI is putting lipstick on a pig to try and minimize the damage to its reputation in Japan from the Ripple lawsuit," said Joel Edgerton, chief operating officer of BitFlyer USA, a cryptocurrency exchange that also has a strong presence in Japan. "SBI is an aggressive player in the Japanese financial industry and it is working to buy the pieces required to make it a leader in Japanese crypto," Edgerton added. "However, it has many other regulated businesses that will not want any negative reputation impact."
|
|
Add your comment (free registrationrequired)
Short overview of recent news articles |
|
Oct,29 2025 Setting Up Our First Huge Gaming Event was CHAOS Oct,27 2025 Malware of the Future: What an infected system looks like in 2025 Oct,27 2025 F1: Race Highlights | 2025 Mexico City Grand Prix Oct,26 2025 F1: Qualifying Highlights | 2025 Mexico City Grand Prix Oct,25 2025 New Big Windows 11 25H2 October Update - New Taskbar Battery Icons Oct,25 2025 Apple Prepping 'Transfer to Android' Feature, Including 3rd-Party Oct,24 2025 HW News - RIP Internet, RAM Prices Skyrocket from AI Demand, Intel Oct,21 2025 Retro Gaming PC Upgrades go WRONG! Oct,21 2025 How social media has ruined us - the more time you spend online, the Oct,20 2025 FERRARI 12 CILINDRI // 340KMH REVIEW on AUTOBAHN Oct,20 2025 ROG Xbox Ally X - a PC Gamer's Perspective Oct,20 2025 Race Highlights | 2025 United States Grand Prix Oct,18 2025 RedMagic Puts Liquid Cooling in its New Gaming Phone Oct,18 2025 Russia Says U.S. Is Planning a $37 Trillion Crypto Reset Oct,18 2025 Tor Browser says no to Firefox's AI features as it removes them Oct,14 2025 NVIDIA GeForce 581.57 WHQL Driver Oct,13 2025 Samsung One UI 8.5 vs iOS 26 - COMPARISON Oct,12 2025 Google Turned Down by Supreme Court, Must Open up App Payments Oct,10 2025 AMD releases new 25.10.1 preview graphics driver with Battlefield 6 Oct,10 2025 MERCY Official Trailer (2026) Chris Pratt Oct,07 2025 Galaxy S26 Ultra - Samsung, Please Don't Copy This Oct,06 2025 Canada's Las Vegas Sphere is here - and I game on it Oct,06 2025 Predator: Badlands - Official Final Trailer (2025) Oct,04 2025 Chasing a Gaming World Record Oct,02 2025 Frankenstein - Official Trailer (2025) Guillermo del Toro, Oscar Oct,02 2025 iPhone 17 Pro Max vs 16 Pro Max / Pixel 10 Pro XL / Galaxy S25 Ultra Sep,30 2025 iOS 26.0.1 is Out! - What's New? Sep,30 2025 NEW! 2026 Audi Q3 2.0 TFSI (265hp) vs. e-hybrid (272hp)| 0-100 km/h Sep,29 2025 Samsung One UI 8.5 Hands on - I Was Wrong Sep,28 2025 iPhone Air Teardown - What is 3D Printed Titanium? Sep,28 2025 Nvidia Wouldn't Send Me This $30,000 GPU - H200 Holy $H!T Sep,27 2025 The Astronaut - Official Trailer (2025) Kate Mara, Laurence Sep,25 2025 iPhone 17 Durability Test -- What Scratches are Permanent? Sep,23 2025 iPhone 17 Pro Max vs. Galaxy S25 Ultra Drop Test! Sep,21 2025 Race Highlights: A Swing In The Drivers' Title Fight? | 2025 Sep,21 2025 BYD Yangwang U9 Hits 496.22 KM/H - EV Supercar Speed Record Sep,21 2025 I'm FIRST to Unbox The World's Biggest TV Sep,21 2025 Samsung Begins Rollout of Android 16 to Rest of Lineup Sep,21 2025 iOS 26 Now Available, with Visual Intelligence Sep,21 2025 Apple's iPhone 17 Series is Nearly Hack-Proof
>> News Archive <<
| |
|
