The SEC verdict on whether Ripple’s XRP is actually a security or not is approaching fast. According to the SEC, neither Bitcoin nor Ethereum is a security. This decision by the SEC authorities has got the digital currency’s fans hopeful that the SEC will take a similar stand for the third largest cryptocurrency. The past week has been a tough one for Ripple’s XRP, the coin was snubbed yet again by Coinbase.
The irate XRP community did not take this snub very well. One of them, an XRP investor called Pete Dakin claimed that the exchange could possibly be abusing its market power. Furthermore, he appealed to the Financial Industry Regulatory Authority (FINRA) to investigate Coinbase for possible price manipulation. Surprisingly enough, FINRA replied to Dakin’s tweet saying, “Thank you for bringing this to our attention.”
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A mechanical engineer turned journalist, Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possible piece of information about them. He works as a crypto-journalist for the website Coinchats.