- Court rulings have partially favored Ripple, classifying XRP as not a security while highlighting unregistered institutional sales of the cryptocurrency.
- Ripple’s CTO, David Schwartz, hinted at innovations in automated market makers, lending protocols, and the upcoming stablecoin at a recent conference.
Ripple CEO Brad Garlinghouse has reaffirmed that XRP and Ethereum are not securities, providing clarity amid regulatory scrutiny. This statement comes as Ripple prepares to launch a stablecoin.
Speaking with Michael Arrington of Arrington Capital, Garlinghouse asserted that XRP and Ethereum do not fall under the classification of securities. This stance is crucial as Ripple navigates a complex regulatory environment.
Garlinghouse emphasized Ripple’s dedication to XRP, stating, “Anyone who thinks Ripple is not fully behind XRP is missing the point. We are fully committed, and we will remain fully committed.”
The status of digital currencies such as XRP and Ethereum has frequently been debated. A court decision in July 2023 partially supported Ripple by stating that XRP does not qualify as a security. Nevertheless, this decision also highlighted that certain sales of XRP to institutions were not registered as securities transactions.
Read more: Charles Hoskinson Clarifies Ripple and XRP Controversy
Ethereum faces similar challenges. Consensys, an Ethereum-focused company, has recently sued the US Securities and Exchange Commission (SEC) to declare that Ethereum is not an unregistered security.
Check out @JoelKatz at #XRPLV24 talking about @Ripple #Stablecoin and #AMMs on #XRPL. pic.twitter.com/jZqXcM7C8d
— Digital Perspectives #LevelPlayingField (@DigPerspectives) May 4, 2024
Ripple is gearing up for a new chapter, focusing on developments in its XRP Ledger. During a recent conference, Ripple CTO David Schwartz talked about the forthcoming stablecoin and advancements in automated market makers (AMM) and lending protocols.
The upcoming Ripple stablecoin, supported by deposits in US dollars and short-term US government securities, targets institutions unable to engage directly with digital currencies but who wish to utilize the XRP Ledger.
Vet, a validator for the XRPL dUNL, suggests that this stablecoin has the potential to transform both institutional and decentralized finance through the ledger’s decentralized exchange capabilities and automated market making functions.
Ripple (XRP) current price is $0.529791 USD, with a change of -0.93%. On the last day, it has ranged from $0.524893 to $0.533159 USD.
