[ad_1]
In the last and last AMA [Ask Me Anything] of Ripple in 2018, Brad Garlinghouse, the company's Chief Executive Officer, answered some very questionable questions to clarify the air from his end. Here, he answered the question whether XRP is a security or not.
According to Garlinghouse, it is clear that XRP is not a security and there are several reasons why the declaration is true. One of the most significant explanations is that, if Ripple, the company closed, XRP would continue to trade more than one hundred exchanges worldwide. Therefore, Ripple is just one of the main participants in the XRP ecosystem.
Other participants mentioned by Ripple are Omni, a startup that uses XRP in interesting ways to build a payment mechanism. In his words:
"… 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. "
He ended his answer to the question by addressing his appreciation for the work carried out by SEC to establish the regulations in force. He announced that his company will continue to work with regulators around the world and will ensure that they understand Ripple and XRP as two independent systems in which XRP remains an open source digital resource.
Ripple is currently fighting a combined lawsuit of collective actions that continues to be transferred from time to time between the State Court and the Federal Court. The case concerned the security of XRP, in which the applicants of different regions assumed that digital activity is in the titles and that they should be regulated in the necessary framework of the SEC, after the legal registration.
Subscribe to the AMBCrypto newsletter
[ad_2]Source link
