If Ripple stops, will XRP still trade? Yes, recently CEO Brad Garlinghouse said that after the success of Litcoin, its founder made his case out of the matter.
During a recent podcast, the Ripple executive said that unless he intends to move away from Ripple soon, he may move the company overseas because he believes regulatory clarity around XRP in the United States Lack of is not beneficial for the company. . According to Garlinghouse, eight different regulators in the United States have said eight different things about XRP. For example, while Fincken allegedly states that it is a currency, the IRS treats it as an asset. “It’s not just withdrawing XRP, it’s taking back the industry,” he said, “
“We should also be on the playground to compete with other players”
The execution statements are being disclosed as they are contrary to the previous position of the CEO regarding the rules. Last year, he expressed concern that Facebook’s plan to enter the crypto-space with Libra would provoke rules for the entire region. In fact, in an open letter, Ripple was also favoring angry US legislators.
While their previous concerns were centered around the possibility that regulators “loaded all cryptocurrencies into one bucket”, their concern today is that XRP is currently excluded from the Regulators’ list of digital currencies simultaneously .
According to him, the lack of regulatory clarity creates an environment in which assets are diluted without clarity, noting that this regulatory uncertainty has hindered progress in some key partnerships, namely banks.
Ripple’s main focus is cross-border payment solutions and banks are undoubtedly a big part of that picture.
However, while there have been few partnerships with banks globally, most of Ripple’s business comes from partnerships with small and medium-sized payment providers.
This is something that Garlinghouse has put down to the fact that huge banks make a lot of money being the elite of cross-border payments, which is why younger players are the first to adopt, the most aggressive, and the pick. Are prepared for. Highest risk.
While some CoinMetrics co-founder Nick Carter suggested that XRP would never be used by banks, the team at Ripple believe that it is only a matter of time that XRP is adopted as a universal bridge asset goes.