In a quick recap, the SEC filed an action against cryptocurrency giant Ripple alleging the firm sold XRP as an unregistered security. The SEC argues that XRP is a security, and not a commodity or other type of asset, because it was generated, distributed, and sold by Ripple Labs. On whether XRP is an “investment contract” (and thus a security) under U.S. securities laws, Mr. Mehta says: “The U.S. Supreme Court’s decision in SEC v. W.J. “The crypto market has been very volatile and unpredictable lately, but many factors point to the fact that crypto will move into a regulated direction. The regulator stated that retail consumers are estimated to save around £53m from the ban on these products.