The CEO of XRP said Security Wouldn’t Harm Ripple, but Might Hurt US

Brad Garlinghouse, CEO of the American blockchain firm focused on payment technologies, said XRP being deemed a security in the US would not damage Ripple, it could hurt the country's purse.

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Anthony Pompliano, who is best known as Pomp, is an American entrepreneur, investor, and host of The Pomp Podcast. The Pomp Podcast featured guest Brad Garlinghouse, CEO of Ripple. The two discussed about crypto regulation, the US approach compared to other jurisdictions, whether Ripple would ever move from the US, how the SEC and OCC affect regulation, and what a Biden presidency could look like for crypto.

Garlinghouse said he can’t think of any market that considers it to be a security internationally or within the main G20 markets, and stating it as such in the US will create a greater technical rift between the States and other countries. The CEO adds that “More than 90 percent of RippleNet customers are outside U.S,” but Ripple will “continue to build the business and grow,” although the American regulatory Securities and Exchange Commission (SEC) were to say that XRP is a security, “a lot of what Ripple does in the Unites States, we could continue, no problem,”

The regulatory framework of the US, the CEO said, “out of sync with what other major economies are doing,” keeping it from engaging “on a level playing field with what’s happening in some of these other markets.” He referred to the United Kingdom, Singapore, Japan, Switzerland and the UAE as a positive example of regulatory clarity. There are businesses that refuse to useproducts enabled by Ripple, he said, “until there is clarity there”, adding that there are currently over 150 businesses in the XRP ecosystem. But if there was more clarity, Garlinghouse would not be able to say if there were more Ripple customers from the US. “We are solving the cross-border payment problem, which is more of a pain for smaller countries,” he said.

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