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{Depending on the commission’s definition of XRP in its lawsuit, the copyright would move the Howey test, and In line with SEC polices, all securities need to be registered.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​â