Coin

<ul class="news-points"> 
 <li><strong>John Deaton argues ADA, MATIC, XRP, and ALGO are not securities.</strong></li> 
 <li><strong>Deaton saying those tokens are software codes.</strong></li> 
 <li><strong>Lawyer Hogan points out that Coinbase has to defend the non-security status of numerous tokens.</strong></li> 
</ul> 
<p>Classifying crypto tokens as securities remains a hot topic in the crypto community, given the ongoing <a href="https://coinedition.com/secs-lawsuit-against-binance-could-restrict-its-expansion-in-hong-kong/">suits against Binance</a> and Coinbase. John Deaton, a prominent lawyer advocating for XRP, challenged the notion.&nbsp;</p> 
<p>Deaton argued that tokens such as ADA, MATIC, XRP, and ALGO should not be labeled as securities. He emphasized that these digital assets are code sequences existing in software and traveling through cyberspace.&nbsp;</p> 
<p>The lawyer asserted that the classification of tokens as securities should be determined based on the landmark <a href="https://coinedition.com/bill-morgan-the-sec-stretching-the-howey-test-in-case-vs-ripple/">Howey case</a>, which sets a precedent for evaluating investment contracts.&nbsp;</p> 
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   <p lang="en" dir="ltr">All I know is that ADA, MATIC, XRP, ALGO, etc are NOT securities. They are digital code sequences, existing in software, traveling through cyberspace. We don’t have to read the Telegram decision that made it clear that the GRAM token was NOT the security, we need only rely on the…</p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1674424558886223872?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">June 29, 2023</a>
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<p>Notably, Deaton’s r…</p>
<p>The post <a rel="nofollow" href="https://coinedition.com/crypto-lawyer-ada-matic-xrp-algo-are-code-sequences-in-software/">Crypto Lawyer: ADA, MATIC, XRP, ALGO Are Code Sequences in Software</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Crypto Lawyer: ADA, MATIC, XRP, ALGO Are Code Sequences in Software

Coin Edition

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