Share this article
Japan's FSA Says XRP Not a Security: Report
The regulator's stance contrasts with that of the U.S. Securities and Exchange Commission.
By Danny Nelson
Updated Sep 14, 2021, 10:56 a.m. Published Jan 13, 2021, 9:56 p.m.
Make us preferred on Google
The top securities watchdog in Japan told The Block Wednesday that it does not consider XRP to be a security, siding against its U.S. counterpart in the debate roiling the token's issuer, Ripple Labs.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The Financial Services Agency said XRP does not meet the definition of a security under Japanese law, The Block reported.
- While FSA's opinion has no bearing on the U.S. Securities and Exchange Commission's current litigation against Ripple Labs, it highlights the lack of consensus on XRP's status among securities regulators.
- Japanese financial company SBI Holdings has previously asserted that XRP is a crypto-asset under Japanese law. SBI is a strong supporter of Ripple and the XRP ecosystem.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin tumbles to 2026 low of $85,200 as gold reverses big gains, Microsoft leads Nasdaq lower
Soaring to $5,600 at one point earlier on Thursday, gold quickly pulled back to below the $5,200 level in U.S. morning trade.
What to know:
- Already sitting on overnight losses, bitcoin's decline accelerated in U.S. morning trade, with the price falling back to $85,200, a new low for 2026.
- The quick selloff came amid a reversal in gold’s breathtaking rally, which had sent the yellow metal soaring above $5,600 at one point Thursday before quickly falling back to $5,200.
- The Nasdaq was also sharply lower, falling 1.5%, as Microsoft declined more than 11% following its fourth-quarter earnings report.
