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An official of Ripple in a recent interview revealed the company's involvement with SEC. The head of governmental and regulatory relations of society, APAC and the Middle East, Sagar Sarbhai, revealed the same when the discussion on XRP was a security or did not happen.
In the recent interview with CNBC, Sarbhai was asked if the ongoing lawsuits the United States claiming that XRP is a security would compromise the adoption encrypted or not. Responding to what he said, "As for the United States, I think it will eventually be the Securities Exchange Commission [SEC] to decide."
He went on to explain that Ripple continually interacts with SEC, educates them on the cases of using XRP and what XRP does. They obviously believe that XRP is not a security. To support his statement, he went on to say that there are many reasons why society believes so.
The first reason he gave was that when someone invests on XRP, he will not receive any interest in the company or any dividend. from Ripple. The second reason he gave is Ripple and XRP are two different things. He went on to explain that the XRP register will remain even if Ripple – the company – does not exist. He added that this is because the XRP registry is open source and anyone can use it.
In addition, Sarbhai went on to explain how things are going with other parts of the world. He specifically mentioned Thailand, saying that the country has developed a new class of activity known as "digital heritage". He said that Thailand has decided to allow Ripple's XRP to be exchanged between six other cryptocurrencies. He went on to say that other countries such as Australia and the Philippines have classified XRP and other digital goods as commodities or cryptocurrencies. The growth market in Abu Dhabi [ADGM] also classified XRP and other cryptocurrencies as raw materials. He concluded by saying "We are not very worried, to be honest"
See also:
Ripple & # 39; s Cory Johnson talks about the prospect of future innovations in blockchain, regulatory bodies and others
SBI & Ripple create a payment application for iOS and Android
Image via Shutterstock
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