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{Based on the Fee’s definition of XRP in its lawsuit, the copyright would pass the Howey exam, and In keeping with SEC restrictions, all securities has to be registered.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​â€