Brad Garlinghouse, the CEO of Ripple stated that the XRP ecosystem is a host of Ripple but just as one of the many participants, and we read more about this in our latest altcoin news.
He was a part of a ‘’Ask me anything’’ session with Ripple Senior VP Monica Long. The session included many interesting opinions and ideas but also predictions about the crypto market for the upcoming year. One of the questions that were discussed was the issue of whether XRP can be classified as a security.
‘’I think its very clear XRP is not a security… I think is if Ripple the company shut down, XRP trades on a hundred other exchanges around the world and XRP would continue to trade. Yeah, Ripple is one important participant in the XRP ecosystem but there are a whole bunch of participants.’’
He continued to state that despite the understanding what the SEC does and how difficult of a job they have regarding regulating the crypto market, Ripple will continue to work with the SEC so they can make sure that XRP is fully perceived as an open-source digital asset that is separate from Ripple.
XRP has continued to show strong performances despite the so-called ‘’crypto winter’’ and it also shows the benefits from the RippleNet by increasing the growth of volumes.
The growth of volumes is built on Ripple’s community support and it is still the only cryptocurrency to have been integrated into bank systems across the world. XRP even overtook Ether and became the second largest cryptocurrency by market cap after bitcoin.
Garlinghouse made a final prediction for 2019 saying that he expects to see an improvement in transparency in the projects and cryptocurrencies getting closer to mass adoption.
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“As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”Nabuilna explained that CBR is still unsure whether to use cryptocurrencies and how they could be launch into Russia’s monetary system but the idea of a zero-volatility digital asset is inviting:
“The CBR, in principle, is opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies fulfill the function of monetary surrogates. We have prepared an analytical report and will soon present it which will analyze what cryptocurrency is, what is happening in the world, what approaches different countries to have, and what regulation is envisaged. And, if the phenomenon of cryptocurrency in any perspective may cause risks to our macroeconomic stability, we need to understand that.”As noted in one of the best cryptocurrency sites, Russia is under significant economic sanction from the United States.
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