Lets face it: Coinbase do not want to list XRP
This guy said "COULD PROBABLY BE CLASSIFIED AS SECURITIES"
Gary Gensler, the former chairman of the Commodity Futures Trading Commission, said that government officials should take a closer look at the largest coins by market capitalization, not just at tokens sold in ICOs. Ethereum’s Ether and Ripple’s XRP could probably be classified as securities, Gensler said.
ITS A BIG GAMBLE TO HOLD THESE COINS
Gensler probably wants to make a name for himself: Here is his opportunity.
Call it FUD BUT if they are defined as securities this market will crash and burn big time.
In my opinion the SEC WILL follow the "Howey Test," which comes from a 1946 U.S. Supreme Court case. The ruling says a security involves the investment of money in a common enterprise, in which the investor expects profits primarily from others' efforts.
ETH AND XRP will be removed from exchanges in the USA if they are deemed as securities. So will other coins that do not fit into the Howey Test.
The Howey Test makes it easy to regulate this space and is a quick fix solution and it will most probably be used.
http://fortune.com/2018/05/01/sec-and-cryptocurrency-regulations/https://www.investopedia.com/news/ethereum-price-drops-news-sec-scrutiny/