High hopes for the Ripple Army? Ripple CEO Brad Garlinghouse is increasingly optimistic that the long-running case with the SEC will deliver a positive result for the blockchain-based global payments company.
“This case is important, not just for Ripple; it’s important for the entire crypto industry in the United States,” said Garlinghouse.
He added that if Ripple were to lose the case, a precedent could be set that would see most tokens on cryptocurrency exchanges become recognized as “securities” by the SEC. This would mean that exchanges can be forced to register with the SEC as brokers and exchanges would be compelled to register the identity of all token holders.“If you determine XRP as a security of Ripple, we have to know every person that owns XRP,” he said. “That’s an SEC requirement. You have to know all of your shareholders. It’s not possible.”
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