In an interview with the Axios on HBO news program, Ripple CEO Brad Garlinhouse said that even if the company were forced to split from the XRP token to counter its classification as a security, the token would continue to trade in the market.
“The SEC implies that if you have a company and you sell a digital product to that company, is it already a security that gives ownership to it? If this interpretation forces Ripple to leave, then the XRP token will still continue to be traded. “
At the same time, Garlinghouse noted that the United States was awarded the title of the only country in the world that claims that a token can be treated as a security.
In an interview, the CEO of Ripple also said that the SEC’s actions have a negative impact not only on the US cryptocurrency industry, but on the whole world as a whole.
“The actions of the SEC are not only Ripple’s problems, it affects cryptocurrencies in the US, stimulates activity abroad. And this is definitely bad for the entire global industry. “
Recently, Ripple Labs was able to win a lawsuit against the British investment firm Tetragon Financial Group Ltd., which demanded that the issuers of the token buy out their stake in the company, which they acquired in 2019 during the Ripple Series C funding round, for a total amount of $ 200 million.
Tetragon Financial Group Ltd. insisted on the return of money from the token issuer, and on the freezing of the company’s accounts until payment.
Ripple’s troubles began after the SEC in December announced a lawsuit, according to which the company is accused of an unregistered sale of a security – XRP token, worth more than $ 1.38 billion. After this announcement, not only the token rate suffered, but the entire industry as a whole, creating a question around the third largest cryptocurrency in the world. The entire crypto community continues to follow the development of events around this case.