Ripple's general counsel says the Sec recognizes XRP as a cross-border fuel, which positions the asset as a unique and innovative technology.
The SEC alleges that XRP was unregistered security when it launched and remains a security to this day.
According to Peter Brandt, the SEC should declare Ripple (XRP) as a security, not a utility.
The legal status of XRP remains unclear, and it could leave the United States for Japan.
Ripple should bring its experience in using ISO 20022 to shape the future of payments.
ISO 20022 has been adopted in 70 countries and an estimated 87% of global financial transactions will be carried out with this standard by 2023.
The company will have access to a single programming language for all of its financial communications. Ripple will support “specific financial processes” and greater operability to work with other existing protocols.
Brad Garlinghouse, has revealed his intentions to increase transactions by 600% and his customer base by 30-40% in the current year.
Cryptocurrencies like Bitcoin or Ethereum do not have a person or company that controls them and therefore cannot be considered financial securities unlike XRP.
The Sec views the 2013 issuance of the cryptocurrency as an undeclared digital asset offering.
She also blames the two founders of XRP personal sales
It would appear that the implications for Ripple are positive.
Nonetheless, the suspense surrounding the trial continues and although he faces a hefty fine, the adventure is set to continue.
Personally, I do not own XRP, but the lawsuit brought by the Sec is something important in the cryptocurrency world and remains a subject to watch out for.
Your opinion on the subject interests me, do not hesitate to say what you think in the comments.
Thank you for browsing this article and long live the cryptosphere