Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => XRP - Ripple Forum => Other Popular Cryptos / Coins => Ripple News & Updates => Topic started by: sirty143 on October 04, 2018, 03:45:55 AM
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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.”
See more for yourself here (https://www.ccn.com/xrp-is-very-clearly-decentralized-ripple-ceo-brad-garlinghouse/).