CoinDesk reported:
The lawsuit is not, however, just about XRP. Instead, it is about the broader question of whether cryptocurrencies are securities and a redefining of the question, “What is a security?” If the court decides XRP is a security, it could set a precedent for the classification of many different types of assets, not just cryptocurrencies. This could create significant uncertainty in the cryptocurrency industry and could lead to a more restrictive regulatory environment, which could potentially lead to the United States falling behind in this new technology to other countries that have embraced it.