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Brad Garlinghouse, the CEO of Ripple sat down for a conversation with Marketing SVP Monica Long. Many controversial and urgent questions were asked and answered and one of the most eagerly asked questions was the question of XRP be a security or not.
Garlinghouse provides the main reason for not being so, stating that, even if Ripple, the company closed, XRP would continue to trade.
Ripple has changed some of his critical statements from the past, according to The Block founder and CEO Mike Dudas. Dudas did extensive research on the company, citing ripple of position on the key topics relating to the company and its cryptocurrency.
Dudas also conducted a Howey test XRP. The Howey Test, from the US Securities Act of 1933 and the US Securities Exchange Act of 1934, if transactions that qualify as investment contracts are considered securities. In this context, the Howey Test shows if XRP is a security. According to Dudas, XRP surpasses all Howey's test categories.
Ripple is just one of the players in the XRP ecosystem, although the largest. The other participants include Omni, which is a startup that uses XRP. He says:
"… but there are a lot of participants there are companies like Omni doing interesting things using XRP as a payment mechanism, so I think you only saw it grow in 2018 and frankly, it grew despite the fact that there's that uncertainty out there so I think it's very clear that XRP is not a security. "
Brad Garlinghouse appreciates the work carried out by the SEC to define the regulations around the cryptographic ecosystem, as it is not an easy task on the part of any imagination effort. He says he does not see the time to work with regulators like he did in the past.
Currently, Ripple it is in the midst of numerous lawsuits that pass between the Court of State and the Federal Court. The lawsuits are again on the XRP security problem.
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