‘XRP Is Not A security’ – CZ Binance View On Current Ripple/XRP Legal Battles

Coinbase exchange, one of the most prestigious exchanges, has been adamant to adding Ripple (XRP) to the list of tradable assets due to XRP’s legal issues in courts. This issue has brought up an interesting exchange of tweets between one of “cryptotwitter” famous personalities, Joseph Young and Changpeng Zhao, the CEO of Binance cryptocurrency exchange.

In a tweet that questioned the persistence of Coinbase not listing XRP, Joseph blamed the current legal issues surrounding XRP being regarded as an asset as the cause. He tweeted,

“Coinbase has been listing everything in crypto apart from XRP. It says it may add every asset above a certain level like the stock market but still no XRP. Savage. On a serious note, it's likely the pending federal court case against Ripple is holding them back for now.” – @iamjosephyoung on Twitter

Changpeng Zhao, known as CZ Binance, responded to the tweet focusing on the implications that would beset US investors in case XRP is declared a security. The CEO of the largest cryptocurrency exchange acknowledged the opinion as his own affirming that the case against Ripple could be in court for a long period of time.

Young later responded to this brushing off the calls of XRP as a security and claiming the legal battles will soon end in favor of XRP. The case was moved from state to federal custody on the request of the Ripple legal team who according to Young are confident to win.

Security Exchange Commission (SEC) commissioners have come out recently rebuffing the claim that XRP is a security as it does not meet any test to term the asset as a security. Owning XRP does not offer the investor any shares in Ripple. This dissolves the idea of XRP as a security.

Will Coinbase reconsider its move and list the second largest cryptocurrency on its platform?

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