Altcoins

Ripple Official Shares Key Developments of Company and XRP

Ripple’s Head of Government and Regulatory Relations, APAC and Middle East, Sagar Sarbhai gave an interview to CNBC where he discussed some important aspects regarding the company and its key developments.   

While talking about the recent lawsuits in the U.S., Sarbhai commented that “as far as the U.S is concerned, the Securities Exchange Commission (SEC) will ultimately make the decision regarding the case”. In addition, he explained that Ripple has been making important and measurable steps towards engaging with the SEC in order to “educate them about the use cases of XRP”.

While talking about the much discussed aspect or XRP being a security, the Head stated that Ripple’s native token in fact is not. He went on stating: “the first reason being, when a person invests in XRP, he will not receive a stake in the company or will not receive any dividends from Ripple. Secondly, Ripple and XRP are two different things, and the XRP ledger was there to stay even if Ripple the company seized to exist… Given XRP ledger is open source, anybody can use it”.

Further on, Sarbhai talked about recent developments of the company in Thailand where he mentioned that the country “has come up with a new asset class called “digital assets”… He continued saying that Thailand “has decided to allow XRP to be traded among 6 other cryptocurrencies”, which is a very important achievement for the cryptocurrency.

At the same time countries such as Australia and Philippines, have categorized XRP and other digital assets as “either a commodity or cryptocurrency”. In addition, Sarbhai highlighted that Abu Dhabi growth Market (ADGM) has also classified Ripple’s XRP among other cryptocurrencies as commodities. “So we are not really worried about it, to be honest”, concluded the official.

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