regulatory uncertainty around the Cryptocurrency
There has been regulatory uncertainty around the Cryptocurrency that remains a constant challenge. Recently the third-largest Cryptocurrency by market capitalization XRP is under the radar of the Securities and Exchange Commission (SEC).
The general counsel and executive vice president of Ripple, Stuart Alderoty, became the interviewee on a fireside chat on cryptocurrency “the Law and regulation of the Cryptocurrency” who clarified some issue concerning the different laws and regulation of Cryptocurrency.
Stuart said XRP is on an open, permissionless ledger. Also adding this, he said he heard evidence that the United States securities and exchange commission (SEC) announced that they are going to inaugurate a node on XRP ledger and also on other open, permissionless ledger.
SEC had made the announcement sometimes back said alterity. Also, SEC did not even call Ripple to ask for the Authorization, only intended to go ahead with it. The chat began with a brief description of what the ripple blockchain technology is in the entire, and the host gave a brief bio of alterity.
The interviewer, in her statement, agreed with the facts that Ripple is somehow different from the Bitcoin, Ethereum, and Libra, as stated by the alterity. Also, she described Ripple is an establishment focused on powering the technology of payment networks to develop and enhance the archaic banking system.
Alterity described that over 200 customers have all over the globe, which is responsible for the rapid growth of Ripple. Responding to that, the former HSBC top official said Ripple issued the letter to the congress in the replay to Libra white paper, which enthused concerns among the congress.
Alterity also mentioned that Ripple used the letter to inform that congress not to draw all regulatory uncertainty around the cryptocurrencycryptocurrency companies with the same pen. Also, he said that “we are searching for a bridge for a gap between fiat currency cross border and not to topple central banks.”