XRP, A Security? SEC Chief Is Asked About Ripple’s Coin
The nature of Ripple’s digital asset XRP has been debated for a really long time, and it seems that until the SEC doesn’t give a final verdict, the digital asset will continue to be slammed and accused of being a security.
During a Q&A session that took place at Fintech Week 2019, a member from the audience asked member Jay Clayton, Chairman of the US SEC, whether and when the SEC will rule on Ripple’s digital asset XRP.
Elements the SEC would consider while analyzing XRP
Clayton has already spoken about the subject with Ripple CEO Brad Garlinghouse and now, he offered a look at what the SEC would consider in an examination fo XRP.
“We don’t comment on specific enforcement matters or whether matters are under review. It would be inappropriate to do so. What I will say is on enforcement matters generally, there are a number of factors that go into the assessment of any remedial action,” he said.
He continued and said: “One of the matters that you think about is how much of the conduct occurred inside or outside the United States, investor loss, those types of things…”
Clayton also stated that “In terms of any particular product – yeah, I’m just not in a position to comment, but I appreciate the sentiment underlying your question, which is understood.”
We recommend that you head over and read the Daily Hodl’s original article in order to find out more details.
Ripple talks about XRP’s price
Not too long ago, Ripple talked about the price of XRP throughout 2019.
Ripple was accused that the company is to blame for the fact that the price for the digital asset did not surge this year.
The firm pushed back all these accusations.
It’s been revealed that in the latest XRP Markets Report, Ripple is accusing bots on Twitter for contributing to this narrative, claiming that the company has an impact on the digital asset.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.