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Pro-XRP attorney John Deaton has dismissed criticism that claims that XRP “is a centrally controlled security.” Deaton’s pushback came in response to Jason Calacanis, a crypto commentator, who asserted XRP shouldn’t get the same treatment as Bitcoin. Calacanis claimed that securities laws would become meaningless if the SEC allowed XRP to trade freely. He warned that startups and funds could take advantage of this by offloading large token supplies onto retail investors while keeping control over the majority. Calacanis doubled down, suggesting XRP should only be for savvy investors who truly grasp the potential downsides. Deaton, who famously challenged the SEC’s stance against XRP and won, dismissed Calacanis’s concerns. Showing his legal chops, Deaton pointed out that a federal judge appointed by former President Barack Obama cited his legal efforts in the ruling 2023 that favored XRP. Adding a bit of playful challenge, Deaton mentioned he’d be happy to school Calacanis on securities law, should he be interested. “But he may prefer to issue [FUD] statements like this one, unchallenged, to further promote potential bias,” Deaton said. The debate over XRP’s classification has expanded beyond the SEC case, with new discussions emerging around the FIT21 Bill, a proposed regulatory framework for digital assets. Crypto analyst MoneyGCC raised concerns about whether XRP meets the decentralization standards required for commodity classification. According to MoneyGCC, 70% of XRPL’s UNL validators receive funding directly or indirectly from Ripple Labs. At the same time, the company controls over 40% of the token supply. These facts, MoneyGCC argued, make you wonder if XRP can truly be called a commodity under the law. In response, another commentator, “Straightup,” defended XRP’s decentralization, stating that Ripple does not control the XRP Ledger. The individual pointed out that validators operate independently and that the UNL list is customizable. Related: XRP Not a Security: Ripple Celebrates Landmark Ruling, Warns of SEC Overreach Furthermore, Straightup emphasized that XRP’s supply is controlled through an escrow mechanism, preventing Ripple from manipulating the market. He referenced Ethereum’s pre-mined ICO and the SEC’s legal loss against XRP in secondary markets as precedents supporting XRP’s commodity classification. This whole back-and-forth underlines the bigger mess of crypto regulation. While Bitcoin is widely recognized as a commodity, XRP’s classification has been disputed for years. In 2023, a U.S. court ruled that XRP is not a security. Yet, critics often overlook this fact when attacking XRP. Related: XRP Braces for SEC Meeting—Policy Shift, Appeal Fate & Price Reaction in the Balance The Deaton-Calacanis showdown is a microcosm of the crypto industry’s wider cry for clear, consistent regulations. Many crypto advocates argue that existing securities laws are outdated and poorly suited for digital assets. They call for tailored regulations that balance investor protection with innovation. Under previous leadership, the SEC maintained that many tokens, besides Bitcoin, could qualify as securities. This position has led to multiple lawsuits against crypto companies. However, under new leadership, efforts are ongoing to clarify crypto rules. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Bitget , the leading cryptocurrency exchange and Web3 company, has obtained a Virtual Asset Service Provider (VASP) license from Bulgaria's National Revenue Agency. The official licensing now enables Bitget to offer a comprehensive suite of crypto services within Bulgaria, including the exchange, trading, transfer, custody, and public offering of crypto assets, as well as wallet services. This aligns with Bitget's broader plans of obtaining EU's Markets in Crypto-Assets (MiCA) license, which will boost its foothold in the region. The VASP license in Bulgaria aligns with Bitget's strategic expansion across the European Union. The company is actively preparing for compliance with the EU's MiCA framework, which seeks to establish a unified regulatory environment for crypto assets throughout the region. "The successful application of the VASP license in Bulgaria is a part of Bitget's expansion strategy to serve users across the European Union," said Hon Ng, Chief Legal Officer at Bitget. "As the EU continues to lead with regulatory frameworks like MiCA, we see strong potential for sustainable growth and innovation in the region while maintaining compliance. Bulgaria serves as a strategic gateway for our European expansion, offering crypto-friendly ecosystems the chance to accelerate crypto's adoption." Ng added, "In 2025, we are excited to continue to grow Bitget's global regulatory footprint in partnership with various regulators around the world. We have a sharp focus on meeting compliance standards in every jurisdiction where we operate and we have been investing in our compliance programme from day one. We believe that our approach enhances user trust, ensures market integrity while at the same time increasing global adoption of digital assets and ensures long-term sustainable growth as we align our operations with emerging regulations worldwide”. Bitget views regulatory compliance as a social responsibility for crypto exchanges, which is evident through its acquisition of approvals in key markets such as Poland, Italy, Lithuania, UK and now Bulgaria. The VASP license in Bulgaria grants Bitget the regulatory authority to offer a wide array of services altered to cater to the needs of digital asset users in the region. These services include the exchange of crypto assets, enabling seamless conversion between crypto and fiat; trading and transfer of crypto assets, facilitating efficient and secure transactions; and custody services, providing a strong framework for safeguarding user assets. Additionally, the license permits the public offering of crypto assets, supporting the scope for innovative token launches and opportunities. In the last three months alone, Bitget has put forth major licensing and expansion updates. It has secured a BSP license in El Salvador , approval in the UK to provide digital asset services , it powered a compliant Vietnam-based exchange BitEXC and is also in talks with FIU in India. With Bulgaria's VASP license, Bitget is now inching closer to being one of the most trustworthy exchanges in the crypto space. The company plans to collaborate closely with European regulators to ensure its products meet all regulatory requirements while prioritizing the protection of user assets and data. Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price , Ethereum price , and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.