According to The Daily Hodl, according to Ripple, the UK has issued relevant guidance that XRP has “non-securities attributes”. Ripple recently filmed a video focusing on global digital asset regulation, and officials seem to refer to a consultation paper from the UK Financial Market Conduct Authority (FCA) in July that compared XRP with Ethereum (Ethereum). The document states: “Tokens may have mixed characteristics that overlap with previous asset classes, or may change over time. For example, ETH can be used as a “payment” (transactional token) on the Ethereum platform. It can also be used to run applications (functional tokens). XRP also has similar functions.” It is reported that this article divides tokens into three types: securities tokens, transaction tokens and functional tokens. However, it is unclear whether the UK regulator has actually taken concrete steps to characterize XRP as a non-securities product.