The lawsuit is not, however, just about XRP. Instead, it is about the broader question of whether cryptocurrencies are securities and a redefining of the question, “What is a security?” If the court decides XRP is a security, it could set a precedent for the classification of many different types of assets, not just cryptocurrencies. This could create significant uncertainty in the cryptocurrency industry and could lead to a more restrictive regulatory environment, which could potentially lead to the United States falling behind in this new technology to other countries that have embraced it.
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- Source: https://www.coindesk.com/business/2023/04/06/ripples-effect-on-financial-advisors/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
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