XRP's Legal Status Is Documented Over The Years, Says Deaton
XRP’s Legal Status Is Documented Over The Years Cramer, while talking in his show Mad Money exclaimed, “What do we know about XRP? Nothing.” Deaton responded to this by questioning Cramer’s knowledge and integrity. Deaton suggested that he either lacked information or was intentionally spreading false information about XRP. advertisement Contrary to Cramer’s claims, Deaton clarified that XRP’s legal status has been extensively documented over the years. In 2014, the US Government Accountability Office (USGAO) classified XRP as a “virtual currency utilized in a decentralized payment protocol called Ripple.” Furthermore, in 2015, the Department of Justice (DOJ) and Financial Crimes Enforcement Network (FinCEN) settled with Ripple, classifying XRP as a “convertible virtual currency.” According to Deaton’s tweet, Ripple was then subsequently instructed to adhere to U.S. banking rules rather than securit...