Brad Garlinghouse: The Only Country That Deems XRP a Security Is the United States
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Brad Garlinghouse, the CEO of the embattled cross-border payment behemoth, Ripple, has recently stated that the only country of the world that currently deems the digital token XRP a security is the United States.

Garlinghouse made this disclosure during a conversation on CNBC’s Squawk Box Asia show. In the course of the conversation, the Ripple CEO showcased his displeasure in the way the U.S. regulators have been handling the proper regulation of the crypto industry.

Read Also: SEC Says XRP Investors’ Motivation for Supporting Ripple Is Only for Profit

In relation to crypto regulatory clarity, Garlinghouse mentioned a number of top tech hubs in Asia that are ahead of the United States. However, the Ripple Chief remains optimistic that the United States will eventually reach this level.

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He specified that South Korea and Singapore are way ahead in terms of clear regulatory frameworks around cryptocurrencies:

“I give credit to markets like Singapore and even parts of Korea where there really has been a thoughtful government-led effort to define and have clear regulatory frameworks around cryptocurrencies.”

Read Also: Former SEC Executive States Reason Why SEC Could Lose the Case against Ripple

United States Is the Only Country That Deems XRP A Security

During the conversation, Brad Garlinghouse criticized U.S. regulators for their failure to take definite action regarding the regulation of the crypto industry, which brought about the lawsuit filed against Ripple by the U.S. Securities and Exchange Commission (SEC).

Brad Garlinghouse noted:

“Ironically, here in the United States, they have not provided that same clarity. It is the only country on the planet that has said XRP is anything other than a currency. The SEC has said… XRP is a security. And so we’re now engaged in a court discussion. For far, I feel good about how that’s been going, but it’s certainly frustrating.”

Garlinghouse also pointed out that he feels good about how Ripple’s lawsuit with the SEC has been developing in the court.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.