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Japan s top securities regulator says XRP is not a security Download PDF / Print Quick Take Japan’s FSA, the country’s securities regulator, has confirmed to The Block that it views XRP as a cryptocurrency and not as a security. This is the first time the FSA has commented directly on the legal status of XRP. Japan s Financial Services Agency (FSA), the country s securities regulator, has confirmed to The Block that it views XRP as a cryptocurrency and not as a security. The question has become relevant recently in light of the U.S. Securities and Exchange Commission s allegation that by selling XRP the firm engaged in sales of unregistered securities and because just about one month ago Ripple CEO Brad Garlinghouse said that the firm might leave the U.S. in search of a more friendly regulatory environment. ....