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Ripple CEO Says Regulatory Framework For XRP Is Crucial For Innovation, Representative Tom Emmer States It Is Not A Security
Summary: Representative Tom Emmer brought together leaders from across the crypto and blockchain industry in the first ever crypto town hall on Thursday, August 20. Attendees included Ripple CEO Brad Garlinghouse, Circle CEO Jeremy Allaire and BitPay CEO Stephen Pair. Garlinghouse noted during the town hall that the company's largest hurdle to date has been the lack ...
Representative Tom Emmer brought together leaders from across the crypto and blockchain industry in the first ever crypto town hall on Thursday, August 20.
Attendees included Ripple CEO Brad Garlinghouse, Circle CEO Jeremy Allaire and BitPay CEO Stephen Pair. Garlinghouse noted during the town hall that the company's largest hurdle to date has been the lack of certainty surrounding the regulatory status of XRP.
Ripple's original goal was to work with banks to facilitate cross border transactions using crypto, but their model has evolved since then to work towards becoming the go-to currency for dapp developers. During the town hall on Thursday, Garlinghouse added that the lack of regulatory framework impedes innovation.
Ripple has faced several lawsuits claiming that XRP is an unregistered security, but the SEC is yet to make a ruling. However this didn't keep Emmer from sharing his own stance. He stated that his position is that XRP is not a security.
In June 2020, Former Commodity Futures Trading Commission Chairman Chris Giancarlo also stated that XRP is not a security according to the Howey Test.
By Emily Mason
Tags: Ripple,XRP
Link: Ripple CEO Says Regulatory Framework For XRP Is Crucial For Innovation, Representative Tom Emmer States It Is Not A Security [Copy]
