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Japan Financial Services Agency: Ripple is considered a cryptocurrency, not a security

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A completely different judgment from that of the US SEC.

Rhythm BlockBeats news, according to The Block, Japan’s Financial Services Agency (FSA) confirmed to it via email that according to the definition of the Payment Services Act (Payment Services Act), the agency regards XRP as A cryptocurrency, not a security. However, the FSA declined to comment on the responses of other authorities.

It is worth noting that the attitude of Japanese regulators towards Ripple is quite different from that of the US SEC. Next, it is not known whether Ripple will move to other countries. Since the US SEC launched charges against Ripple, the price of XRP has suffered a large drop. According to official sources, Ripple may submit an initial response to the SEC's allegations in the next few weeks.