Ripple CEO Brad Garlinghouse recently shed light on the ongoing debate over the classification of digital assets, making a definitive statement about two of the most prominent cryptocurrencies: XRP and Ethereum (ETH). This perspective was brought to the fore by a Fox Business correspondent, Eleanor Terrell.
Ripple CEO Brad Garlinghouse recently shed light on the ongoing debate over the classification of digital assets, making a definitive statement about two of the most prominent cryptocurrencies: XRP and Ethereum (ETH). This perspective was brought to the fore by a Fox Business correspondent, Eleanor Terrell.
The Ripple CEO made the comments during a fireside chat with Michael Arrington, founder of Arrington Capital, at the recent XRP conference in Las Vegas.
According to Ripple’s CEO, neither XRP nor Ethereum should be considered securities. This comment aligns with the long-standing argument put forward by Ripple and other stakeholders in the crypto community.
Ripple’s ongoing legal battle with the SEC has put the company in the spotlight, making its CEO’s views particularly notable.
The Ripple CEO’s comments come at a critical time when regulators are scrutinizing the cryptocurrency market, and several discussions are emerging in the cryptocurrency space about it. In the week, reports emerged from MicroStrategy president Michael Saylor speculating that the SEC could consider Ethereum, BNB, SOL, XRP, and ADA as unregistered cryptoasset securities.
The debate over whether crypto assets like XRP and Ethereum (ETH) should be classified as securities has been a point of contention within the cryptocurrency community for years.
However, XRP gained legal clarity in Ripple’s lawsuit in July 2023, when the judge ruled that XRP was not a security in itself. However, certain institutional sales of XRP were found to be sales of unregistered securities.
A recent twist in the cryptocurrency security debate emerged when Ethereum software company Consensys filed a lawsuit against the SEC, revealing that the SEC believes Ethereum is an unregistered security and has been conducting investigations into that premise for the year. past. Consensys sought to have a judge declare that Ethereum is not a security, preempting any future SEC claims.
