XRP is ‘Very Clearly Decentralized’: Ripple CEO Brad Garlinghouse

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When Securities and Exchange Commission (SEC) Division of Corporation Finance Director William Hinman gave his opinion this summer that ether — the native asset of the Ethereum platform — was not a security under federal law, he listed among his justifications the fact that, although ether was originally distributed through a token sale, it has become substantially decentralized in the years since its network launch.

Since then, supporters of XRP, the third-largest cryptocurrency, have sought to demonstrate that the token — colloquially referred to as “ripple” due to its close association with the blockchain startup of the same name — is sufficiently decentralized to evade the security classification as well.

Ripple CEO Brad Garlinghouse made this argument in a recent interview with financial news outlet Cheddar. Garlinghouse, who was speaking on the sidelines of the Ripple-sponsored industry conference “Swell” in San Francisco, said that he believes XRP is “very clearly decentralized.”

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