Deaton says the document is cited in his amicus brief. Bailard Inc., a United States Securities and Exchange Commission-registered investment adviser and broker, allows investments in XRP which it says is “generally” viewed as a currency. “In light of the extremely complex nature of the legal analysis regarding cryptocurrencies to determine which ones are securities The post SEC-Registered Firm Lists XRP as Non-security in Code of Ethics first appeared on The Crypto Basic .